💥$XRP The ETFs still look sizable, but new money is clearly coming in more slowly, so this can’t be considered bullish.
As of October 6, the five U.S. spot XRP ETFs held a combined total of about $1.7 billion, or roughly 1.13 billion XRP.
But net inflows over the past week were just $3.9 million, an order of magnitude below the roughly $112 million over the past month.
Looking closer, Bitwise saw inflows of about $11 million on October 6, while Franklin saw outflows of $4.1 million and Canary saw outflows of $3.3 million. Investors are no longer all rushing in together.
After prices fell on October 7, the ETFs’ asset value dropped to about $1.61 billion, while their holdings remained near 1.13 billion XRP. This suggests that the amount of XRP held by the ETFs hasn’t fallen significantly, but new buying has weakened.
If inflows continue to slow, the ETFs’ support for the price will weaken too.
Don’t treat the fact that ETFs are still around as a reason to go long. Focus on whether net inflows can pick up again. If they keep shrinking, any rebound could turn into a bull trap.
#XRP现货ETF持仓17亿美元周流入放缓
As of October 6, the five U.S. spot XRP ETFs held a combined total of about $1.7 billion, or roughly 1.13 billion XRP.
But net inflows over the past week were just $3.9 million, an order of magnitude below the roughly $112 million over the past month.
Looking closer, Bitwise saw inflows of about $11 million on October 6, while Franklin saw outflows of $4.1 million and Canary saw outflows of $3.3 million. Investors are no longer all rushing in together.
After prices fell on October 7, the ETFs’ asset value dropped to about $1.61 billion, while their holdings remained near 1.13 billion XRP. This suggests that the amount of XRP held by the ETFs hasn’t fallen significantly, but new buying has weakened.
If inflows continue to slow, the ETFs’ support for the price will weaken too.
Don’t treat the fact that ETFs are still around as a reason to go long. Focus on whether net inflows can pick up again. If they keep shrinking, any rebound could turn into a bull trap.
#XRP现货ETF持仓17亿美元周流入放缓