Summary
- Goldman Sachs said it has emerged as the largest investor, holding $154 million worth of spot XRP ETFs.
- Spot XRP ETFs recorded net inflows for four straight months after launch, bringing cumulative inflows to $1.4 billion.
- However, spot XRP ETFs have seen net outflows of $26 million so far this month.
Forecast Trend Report by Period
Global investment bank (IB) Goldman Sachs has emerged as the largest investor in U.S. spot XRP exchange-traded funds (ETFs).
According to Cointelegraph on the 11th (local time), Goldman Sachs held $154 million (about KRW 230 billion) worth of spot XRP ETFs as of the end of last year. This is the largest position among institutions investing in XRP ETFs. Millennium Management ($23 million) and Logon Stone Capital ($5.3 million) followed.
Since their launch in November last year, spot XRP ETFs recorded net monthly inflows for four consecutive months through February. Bloomberg ETF analyst James Seyffart said on X the previous day (the 10th), "XRP’s price has fallen sharply, but the ETFs are maintaining a relatively resilient trend," adding, "(Spot XRP ETFs) have seen cumulative inflows of $1.4 billion since launch through recently."
However, outflows have persisted so far this month. According to crypto analytics firm SosoValue, spot XRP ETFs logged net outflows for four consecutive trading days from the 5th through the previous day (the 10th). Month-to-date, net outflows total $26 million.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
