- August 26 saw XRP spot ETFs pull in $28.14 million in net inflows, a seven-month high.
- Bitwise led the day with $13.12 million, reaching $575 million in cumulative inflows.
- Six-day XRP ETF inflows hit $77.47M, sustaining momentum since August 18.
XRP spot ETFs pulled in $28.14 million in net inflows on August 26, marking one of their best days in more than seven months, showing a clear resurgence in institutional demand for XRP. It also marked seven consecutive days of positive inflows.
According to SoSoValue data, Bitwise led the day’s inflows with approximately $13.12 million, bringing its cumulative historical net inflows to around $575 million. Franklin Templeton followed with roughly $9 million.
Total net assets across the XRP spot ETF market stood at about $1.399 billion, while cumulative historical net inflows reached close to $1.618 billion.
XRP ETFs resumed inflows on August 18 and have maintained steady momentum since then. In the six days leading up to the latest surge, total inflows reached $77.47 million. This sustained streak highlights continued positive activity across XRP-linked investment products in recent sessions.
Are ETF Inflows Driving XRP’s Price?
It’s hard to say if ETFs are driving XRP’s price, given the fact that XRP was already on a strong run before the latest ETF inflow surge picked up. By August 26, a rough estimate puts XRP’s seven-day gain at about 43%, outperforming other major cryptocurrencies during that timeframe.
XRP is trading at approximately $1.42 at press time, which is a notable boost considering it managed to drop below $1 at one point on August 19.
This means the ETFs and XRP’s price could act as a two-way street, where rising prices might bring in ETF buyers, and steady ETF demand can give the market an extra boost.
As such, ETF inflows shouldn’t be automatically treated as proof that XRP will continue to rise.
Related: XRP Network Activity Jumps 655%, Is the ETF Rally Backed by Onchain Demand?
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