Initial Net Outflows Hit US Spot XRP ETFs After Strong Debut Run

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US spot XRP ETFs have registered their first daily net outflows, ending an uninterrupted 36-day inflow period since they began trading.

On Wednesday, the five funds posted a combined net outflow of $40.8 million, according to tracking firm SoSoValue. The outflows were concentrated in the 21Shares TOXR product, which lost $47.25 million. Meanwhile, competing funds from Canary, Bitwise, and Grayscale saw modest net inflows of approximately $2 million each.

The outflows mark a pause in what has been a strong accumulation phase, with the ETFs bringing in a total of $1.25 billion in net inflows since the first fund, Canary’s XRPC, launched in mid-November last year.

Crypto Analyst Rachael Lucas at BTC Markets called the development a notable shift but contextualized its size, pointing out it amounts to less than 3% of total inflows. She suggested the outflows likely stem from investors capitalizing on gains after XRP’s swift rally from $1.8 to $2.4, combined with a wider market downturn.