XRP Hits $1.4B in ETF Cash

Major digital asset funds bled capital while $XRP stood alone in the green. The Ripple-linked token has managed to buck the trend, and the cumulative net inflows recorded by $XRP ETFs have topped $1.4 billion.

Heavyweights like Bitcoin and Ethereum saw significant daily outflows, while $XRP exchange-traded funds (ETFs) continued a massive streak of quiet accumulation by institutional investors.

Defying the market hemorrhage

According to daily net flow data for U.S. crypto spot ETFs, the broader market faced heavy selling pressure on May 26.

Bitcoin spot ETFs recorded a steep $105.19 million in net outflows, while Ethereum ETFs shed $33.16 million. Solana ETFs remained completely flat, printing $0 in daily flows.

In stark contrast, $XRP ETFs recorded a net inflow of $1.55 million for the day, with Grayscale's $XRP Trust ETF (GXRP) acting as the sole contributor to the daily gains.

The $1.55 million may seem modest compared to the massive swings typical of Bitcoin. However, the winning streak of $XRP ETFs is rather impressive. They have now recorded a total of 27 consecutive days of uninterrupted ETF inflows.

The $1.4 billion milestone

In the meantime, the cumulative net inflows across all U.S. spot $XRP ETF products have officially surpassed the $1.4 billion mark, settling at roughly $1.409 billion.

The sustained institutional demand has pushed the total net assets held by $XRP ETFs to $1.12 billion. This means that U.S. ETFs now hold approximately 1.36% of $XRP's total market capitalization.

Bitwise's product leads the pack with $462.24 million in cumulative net inflows. Canary (XRPC) follows with $452.03 million.

Franklin Templeton (XRPZ) holds a strong third place with $390.04 million in inflows. Grayscale (GXRP) sits at $130.11 million in cumulative inflows, acting as the sole driver of the May 26 gains.

Despite the relentless institutional accumulation, $XRP's price action remains relatively muted. The digital asset is currently trading around the $1.33 level, bringing its total market cap to approximately $82.2 billion.