Key Notes
- US spot XRP ETFs recorded $8.44 million in daily total net inflows on December 29.
- Its cumulative net inflows have now surged to $1.15 billion.
- XRP price is still struggling to hit $2 despite the ETF outperformance.
A turbulent December was not strong enough to disrupt the consistent inflows into the United States spot XTP Exchange Traded Funds (ETFs).
At the time of writing, these altcoin funds have successfully sustained a 29-day streak of inflows. Meanwhile, their Bitcoin
BTC
$87 959
24h volatility:
0.0%
Market cap:
$1.76 T
Vol. 24h:
$35.25 B
and Ethereum
ETH
$2 966
24h volatility:
0.4%
Market cap:
$358.04 B
Vol. 24h:
$19.57 B
counterparts continue to record a mix of positive and negative flows.
XRP Price Fails to Respond to ETF Inflows
The inflows into US Spot XRP ETFs have remained steady, reflecting institutional investors’ consistent capital injection.
A 29-day inflow streak in the current market is quite significant. As of December 29, SoSoValue data showed that these funds have a daily total net inflow of $8.44 million, and this has also pushed the cumulative net inflows to $1.15 billion.
This metric was just around $1.12 billion a week ago.
Vincent Liu, Chief Investment Officer at Kronos Research, asserted that “XRP inflows are a function of regulatory clarity and steady accumulation into a less crowded trade than BTC/ETH.”
He noted that XRP’s
XRP
$1.86
24h volatility:
0.3%
Market cap:
$112.68 B
Vol. 24h:
$1.82 B
cross-border settlement use case “offers differentiated exposure that continues to attract longer-horizon capital.”
In December alone, XRP funds attracted $478 million in inflow. On the flip side, XRP price has not seen the same positive momentum surrounding its linked ETFs.
The Ripple-associated coin is currently trading at $1.86, with a 0.82% dip over the last 24 hours. Its market capitalization is pegged at $112.7 billion, sufficient to keep XRP as the fifth-largest crypto.
More Altcoin ETFs to Enter the Crypto Market
Amid this performance, some spot crypto issuers are looking to push out more ETFs into the market.
In December, Bitwise filed an S-1 with the US SEC to launch the first US spot ETF tracking SUI token.
This was after the asset management firm had made a move on Bitcoin, Ethereum, Solana
SOL
$124.2
24h volatility:
0.3%
Market cap:
$69.91 B
Vol. 24h:
$3.02 B
, and XRP ETFs.
Around the same time, Canary Capital submitted an S-1 filing to the securities regulator for a staked Injective ETF, which would be listed on Cboe.
If approved for trading, investors would get a regulated exposure to the INJ
INJ
$4.57
24h volatility:
2.1%
Market cap:
$455.54 M
Vol. 24h:
$34.52 M
token along with the option to earn staking rewards. So far, no specific staking partners for the fund have been mentioned.
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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
Godfrey Benjamin on X
Source: https://www.coinspeaker.com/xrp-etf-retains-29-day-inflow-streak-despite-negative-price-outlook/
