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XRP Bitwise XRP ETF recorded its largest single-day net inflow in October, and rival funds redeemed
Bitwise recorded its largest single-day inflow from its XRP exchange-traded fund (ETF) in October, attracting US$10.55 million. At the same time, competing funds were redeemed on the trading day. Franklin Templeton and Canary Capital combined recorded a net outflow of US$7.41 million, resulting in an overall net inflow of US$3.14 million for the XRP ETF.
Although funds continued to be injected into Bitwise's XRP investment products, XRP prices fell back from above $1.50 to around $1.43, reversing gains over the weekend.
Analysis of Capital Flow and Market Performance
According to SoSoValue data, at the end of the trading day on October 6, the XRP ETF recorded a total net capital inflow of approximately US$3.14 million. Investors added money to Bitwise's products, while Franklin Templeton and Canary Capital redeemed their respective XRP funds.
Specific data shows that Franklin Templeton recorded US$4.07 million in redemption funds, and Canary Capital outflows of approximately US$3.34 million during the same period. The combined redemption size of the two funds was approximately $7.41 million, offsetting most of the money entered Bitwise investment products. Bitwise became the only XRP ETF to record capital inflows and was the main contributor to the overall positive balance that trading day.
According to reports, in the previous October trading days, Bitwise's capital inflows were limited or even zero. The $10.55 million inflow exceeded the early October reading and marked a significant change after a previous period of relative calm. It is worth noting that Bitwise's single-day inflows even exceeded the combined results for the entire market, as other competing funds recorded outflows rather than matching their inflows. Although Franklin Templeton and Canary Capital reported redemptions, the overall XRP ETF on the trading day still showed a net inflow of funds.
XRP price correction and capital inflow divergence
During the same period, XRP lost some ground in the spot market, reversing the previous gain that had lifted it above $1.50. Although the token strengthened over the weekend, it failed to maintain this rise during the opening trading day. According to market reports, XRP traded above $1.50 earlier this week and then fell to about $1.43. As a result, Bitwise's strong inflows were accompanied by lower XRP quotes rather than a continuation of the weekend's uptrend.
ETF data shows differences in fund allocation patterns among issuers: While Bitwise attracts funds, two main competitors record redemptions. Franklin Templeton's redemption amount was approximately $730,000 more than Canary Capital, making it the larger redemption party of the two funds mentioned.
As the total outflows from both were lower than Bitwise's inflows, the tracked XRP ETF market ended the trading day with a net increase. The balance of $3.14 million is the remaining funds after deducting part of Bitwise's $10.55 million inflow. Bitwise closed with its strongest inflows in October, while XRP traded below levels earlier in the week. Redemptions from rival funds reduced the overall ETF total, leaving the market's positive balance less than Bitwise's individual inflows.
