The 36-day inflow record has ended! The US spot XRP ETF experienced its first outflow of $41 million

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U.S. spot XRP exchange-traded funds (XRP ETFs) have reached a critical turning point. Recent data shows that for the first time since their launch, these products experienced a single-day net outflow, ending a 36 trading day streak of “zero outflows.” According to SoSoValue statistics, five U.S. spot XRP ETFs had a combined net outflow of approximately $40.8 million in one day, indicating a phase shift in market sentiment.

Specifically, 21Shares’ TOXR became the main source of outflows, with a single-day net outflow of $47.25 million; meanwhile, Canary, Bitwise, and Grayscale’s XRP ETFs recorded a small net inflow of about $2 million combined. Overall, the scale of this outflow remains limited, accounting for less than 3% of the $1.25 billion net inflow since Canary’s XRPC listing on November 13, 2024.

BTC Markets cryptocurrency analyst Rachael Lucas pointed out that the first net outflow of the U.S. spot XRP ETF is indeed symbolic but does not signal a trend reversal. She believes that XRP’s rapid rise from $1.8 to $2.4 within a week, combined with a broader crypto market correction, triggered some profit-taking. “From on-chain data, exchange reserves remain at historic lows, and trading volume stays high, all indicating that XRP’s mid-term fundamentals remain resilient,” Lucas said. If ETF funds shift back to net inflows, XRP’s price could still test the $3 level again.

It is worth noting that this round of outflows is not unique to XRP ETFs. The U.S. spot Bitcoin ETFs experienced a total net outflow of up to $486 million on the same day, with Fidelity’s FBTC and BlackRock’s IBIT losing $247.6 million and $130 million respectively. Over the past two days, Bitcoin ETF outflows have exceeded $700 million. Ethereum ETFs are also under pressure, with a single-day net outflow of $98.5 million, including Grayscale’s ETHE losing $52 million, marking the first net outflow of ETH ETFs since 2026.

Presto Research analyst Min Jung noted that compared to the stock market, cryptocurrencies have recently underperformed, with some funds flowing back into traditional risk assets. This trend has been reflected in price volatility and ETF fund flows. In the short term, the changes in XRP ETF funds are more a result of market rebalancing rather than a negative outlook on its long-term prospects.

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