Spot XRP ETFs in the U.S. extended their winning streak to 12 consecutive weeks, adding a net $4.74 million in the period from September 28 to October 2. The positive headline, however, masked a sharp slowdown from the prior week’s $75.59 million inflow.
The category now holds 1.186 billion XRP, valued at roughly $1.74 billion with the token near $1.52. That amounts to about 1.19% of XRP’s total 100 billion supply, making spot XRP ETFs an increasingly visible—if still relatively small—part of the token’s market structure.
The week’s activity also showed a clear split among issuers: Franklin Templeton’s XRPZ attracted most of the fresh capital, while Bitwise, the category’s largest fund, suffered a $3.28 million redemption on the final trading day.
Key Facts
- Spot XRP ETFs recorded $4.74 million in net inflows for the week of September 28 to October 2, marking a 12th consecutive week of positive flows.
- The weekly inflow was down 94% from the previous week’s $75.59 million.
- U.S. spot XRP funds now hold 1.186 billion XRP worth about $1.74 billion at a token price of $1.52.
- Franklin Templeton’s XRPZ added $4.065 million during the week, lifting cumulative inflows above $505 million.
- Bitwise’s XRP ETF, still the largest fund in the category, posted a $101,900 weekly net outflow after a $3.28 million redemption on Friday.
Spot XRP ETFs
The latest flow data suggest that investor demand for spot XRP ETFs remains intact, but conviction has weakened as XRP struggles to break above resistance near $1.55. While the category stayed in positive territory, the margin was thin relative to the outflows concentrated in Bitwise’s highly liquid product.
That matters because Bitwise often acts as the market’s pressure valve for short-term institutional trading. When tactical desks want exposure or need to trim risk quickly, the deepest and most liquid fund usually sees the first move. A single-day redemption from that vehicle, especially after macro-driven volatility, can have an outsized impact on weekly totals even if longer-term allocations remain stable.
Franklin’s XRPZ told a different story. Its inflow profile appears steadier and more consistent with adviser platforms or model-based allocation programs. The fund’s lower 0.19% fee has made it an increasingly attractive option for investors who want brokerage-account exposure to XRP without the trading emphasis associated with larger, more liquid products.
The 12-week inflow streak survived, but the sharp slowdown shows that spot XRP ETF demand is waiting for price confirmation rather than chasing the market at current levels.
Why the slowdown matters
Cumulative net inflows across the category now stand at about $1.79 billion, while net assets are around $1.66 billion. That gap of roughly $133 million implies the average invested dollar is still underwater by about 7%, a key detail for understanding current trading behavior.
Investors who entered during the late-August and September rally are near breakeven, while many who bought at launch remain deep in the red after XRP’s slide from above $2.50 earlier in 2026. That creates natural selling pressure around the $1.55 to $1.65 zone, where some holders may use any rally to reduce exposure or exit flat.
Implications for Investors
For portfolio managers and self-directed investors, the main takeaway is that spot XRP ETFs are still attracting capital, but not broadly enough to signal a fresh breakout in institutional demand. The market is not seeing widespread redemptions, which limits downside panic risk, yet it is also not seeing the kind of daily creations that typically accompany a sustained price move higher.
The product split also offers insight into investor preferences. Bitwise remains the liquidity leader, with tighter spreads and heavier trading volume, making it more suitable for larger or tactical positions. Franklin’s XRPZ, with its lower fee and steadier flow profile, may appeal more to longer-horizon buyers focused on cost efficiency. That distinction can matter if the category continues to consolidate around a few dominant issuers.
Investors should also keep an eye on how XRP ETFs compare with other crypto funds. Bitcoin products brought in $241.1 million during the same week, while Ether funds lost $138 million and Solana funds slowed sharply. In relative terms, XRP held up better than Ether on direction, but the collapse in weekly inflow pace suggests capital is still prioritizing larger, more liquid digital assets before moving further out the risk curve.
Another important consideration is supply dynamics. The funds’ 1.186 billion XRP holding is meaningful, but still modest relative to broader token flows, including monthly escrow releases and exchange balance shifts. That means ETF demand alone is unlikely to drive XRP materially higher without confirmation from the underlying token market, especially from large holders and spot buyers outside the fund complex.
Macro conditions remain relevant as well. Elevated Treasury yields continue to challenge non-yielding assets, and crypto allocations beyond Bitcoin tend to be more sensitive when risk appetite narrows. If yields retreat or if digital-asset regulation becomes clearer, XRP funds could see stronger inflows from adviser platforms and institutions that have so far remained cautious.
The next signal to watch is whether XRP can clear resistance around $1.55 and hold it. If that happens, ETF inflows may reaccelerate quickly; if not, the category could remain positive but subdued as investors wait for a stronger catalyst.