XRP ETFs Hit Ninth Consecutive Day of Net Inflows

XRP spot exchange-traded funds (ETFs) have extended their streak of daily net inflows to nine consecutive trading days on Aug. 25. Investors added $23.87 million to the products despite a broader crypto market sell-off.

According to SoSoValue data, the latest inflow pushed cumulative net inflows into U.S. spot XRP ETFs to a rather impressive $1.6 billion. The funds held $1.46 billion in net assets at the close of trading. 

Bitwise is in the lead 

Bitwise’s XRP ETF led the inflows on Tuesday with $11.02 million. Franklin Templeton’s fund is second with $6.39 million. Grayscale’s XRP ETF attracted $4.28 million. Canary Capital recorded another $2.19 million. The 21Shares XRP ETF reported no net flow for the day.

U.S. spot XRP ETFs recorded no combined inflows on Aug. 14 and Aug. 17, but returned to positive territory with $5.81 million on Aug. 18. 

They then attracted $2.35 million on Aug. 19, $13.24 million on Aug. 20, $18.38 million on Aug. 21, $13.82 million on Aug. 24 and $23.87 million on Aug. 25.

Over the last five days, the funds have attracted about $77.5 million over the latest five trading sessions alone. Last week, for example, they recorded approximately $39.8 million in net inflows.

Growing demand 

Flows were relatively stagnant during the first part of the month. There were several consecutive days recording zero net inflows. Cumulative inflows remained around $1.51 billion between Aug. 5 and Aug. 18. However, there was a great increase in the second part of the month (from Aug. 18 onward). 

The funds attracted $5.81 million on Aug. 18, $2.35 million on Aug. 19, $13.24 million on Aug. 20, $18.38 million on Aug. 21, $13.82 million on Aug. 24, and $23.87 million on Aug. 25. 

XRP is currently trading at $1.44, according to CoinGecko data. It is up 40% over the past two weeks.