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XRP 
ZEC U.S. spot XRP ETF received a net inflow of approximately US$8 million on Thursday, and Bitcoin ETF funds had two consecutive days of net outflows
On Thursday, U.S. spot XRP (XRP) exchange-traded funds (ETFs) attracted approximately US$8 million in inflows, while Bitcoin (BTC)-related funds lost US$244 million, expanding their cumulative net outflows for two consecutive days to approximately US$729 million.
Key Points
- The XRP ETF was the only major cryptocurrency ETF class to achieve a net inflow of funds on Thursday, with approximately US$8 million in new funds.
- On the basis of an outflow of US$485 million on Wednesday, the Bitcoin ETF lost a further US$244 million on Thursday, with a cumulative net outflow over the two days of approximately US$729 million.
- Funds related to Ethereum (ETH), Solana (SOL) and Zcash (ZEC) also experienced outflows.
XRP ETF Capital Flow Analysis
On Thursday, the U.S. spot XRP ETF became the only group of cryptocurrency ETFs to record net capital inflows. All inflows went to Franklin Templeton's XRPZ fund, which increased its holdings of approximately 6 million XRP tokens, while the other four XRP funds experienced no liquidity.
Previously, investors withdrew $485 million on Wednesday, causing the Bitcoin ETF to lose about $244 million on Thursday. The Ethereum Fund lost approximately $73 million, the Solana Fund lost approximately $3 million, and the only spot Zcash ETF in the United States also recorded a net outflow of approximately $19 million.
The withdrawals came amid a widespread cryptocurrency sell-off that triggered approximately $1.19 billion in leveraged liquidations and briefly pushed the price of Bitcoin down to around $80,400. Subsequently, the price of Bitcoin recovered to around $82,000.
Pressure on Bitcoin Funds
According to CoinDesk, since listing, XRP Funds have attracted approximately US$1.81 billion in net inflows, compared with approximately US$1.59 billion for the Solana ETF. This gap is noteworthy because XRP registered inflows on Thursday, while other major cryptocurrency ETF categories reported outflows.
ETF funds flows measure demand for regulated investment products, but do not identify every buyer or show whether positions have been hedged. Early regulatory documents cited by CoinDesk show that large professional institutions such as Goldman Sachs, Jane Street and Millennium Management are major holders of XRP funds.
The latest capital inflows continue a longer-term trend. CoinDesk reported on September 2 that the XRP ETF absorbed approximately US$170 million in 11 consecutive positive inflow trading days, bringing the cumulative net inflow to US$1.68 billion. Since then, the total has further increased to approximately US$1.81 billion.
