XRP ETFs' Record-Breaking Performance: A Deep Dive
The crypto market is abuzz with the remarkable success of XRP Exchange-Traded Funds (ETFs), which have just hit a 13-day streak of positive net flows, surpassing the competition. This achievement is particularly impressive given the intense institutional demand and market recovery. In contrast, Solana (SOL) ETFs are facing a slowdown, with the largest outflows since their launch.
XRP ETFs Take the Lead
XRP ETFs have been on a winning streak, with $50.27 million in inflows on December 3, marking their 13th consecutive day of positive net flows. This performance is a testament to the growing interest in XRP, especially after the launch of Canary Capital's XRPC, the first single-token XRP spot ETF on November 13. XRPC's debut on Nasdaq with a total volume of $58 million and $357.54 million in positive net flows in 13 days set a new standard for altcoin-based ETFs.
The second group of XRP funds, led by Grayscale's GXRP and Franklin Templeton's XRPZ, further solidified their position as the fastest-growing category. These funds attracted over $60 million in net inflows each on their first day, outperforming major ETFs based on Bitcoin (BTC), Ethereum (ETH), and even Solana.
During the first three days of December, XRP ETFs saw a cumulative net inflow of $207.66 million, surpassing Bitcoin ETFs' $52.4 million and Ethereum ETFs' $51.3 million. With a total of $874.28 million in inflows in 13 days, spotXRP ETFs have now outperformed SOL ETFs, which held the record among the second wave of altcoin-based investment products.
Solana ETFs Face a Slowdown
While XRP ETFs are making waves, Solana funds are experiencing a slowdown. On December 3, Solana ETFs recorded $32.9 million in outflows, marking their third negative net flows day since October 28. Despite positive net flows, Bitwise's BSOL, Fidelity's FSOL, and Grayscale's GSOL couldn't keep up with 21Shares' TSOL, which saw $41.8 million in outflows, marking the fourth negative day in a week.
Solana ETFs had a record-breaking November with $613 million in inflows during a 22-day positive streak. However, this remarkable run ended a week ago when TSOL registered negative net flows for the first time, recording outflows of $8.1 million. Despite the altcoin's recent price recovery, SOL-based investment products started December with outflows worth $13.5 million, followed by strong inflows of $45.77 million on Tuesday.
