XRP spot ETF assets under management surpass $1 billion…price shows weak trend

XRP spot exchange-traded funds (ETFs) appear to have exceeded $1 billion in assets under management (AUM).

On the 15th, according to crypto-focused media BeInCrypto, SoSoValue's tally shows the total net assets of XRP spot ETFs passed $1 billion last week, recording about $1.18 billion. Cumulative net inflows amounted to $990.9 million.

XRP spot ETFs have seen uninterrupted net inflows since launch. Currently five asset managers — Grayscale, Franklin Templeton, Bitwise, Canary Capital, and others — manage related products, and recently 21Shares launched the 'TOXR' ETF to broaden investment access.

Steven McClurg, CEO of Canary Capital, explained, "Solana is efficient for on-chain holdings and staking, whereas XRP has no staking and has greater institutional demand," adding, "Demand from investors who prefer direct holdings and those who prefer financial products coexist."

Market participants view positively that inflows are rapidly increasing even with a limited number of ETFs. However, despite ETF growth, XRP's price performance remains relatively weak. According to BeInCrypto market data, XRP is trading at 1.995 dollars, down about 13% over the past month.

Some market participants are focusing on movements by large holders, the so-called 'whales.' A Zaif Crypto analyst said, "While XRP remains in a short-term downtrend, whales are actively trading," adding, "this is a pattern often observed in low-price zones ahead of a trend reversal."

The outlet reported, "The market views the rapid growth of XRP spot ETFs as a signal of expanding medium- to long-term demand from institutional investors," but added, "Whether there is a short-term price rebound depends on the pace of additional inflows and overall market conditions."