U.S. XRP ETFs Accumulate Over 1 Billion XRP
- Seven U.S. XRP ETFs hold a total of 1,179.62 million XRP, representing approximately 1.18% of the total supply.
- Bitwise leads with a holding of 413.1 million XRP, followed by Franklin Templeton with 293.1 million and Canary Capital with 249.8 million.
- Sosovalue reported $75.59 million in weekly inflows to these funds, yet net assets at $1.77 billion are slightly below cumulative inflows of $1.79 billion.
- Ripple’s escrow can release up to 1 billion XRP on October 1, which is about 85% of what U.S.-based ETFs have accumulated since their inception.
- XRP is trading near $1.48 on Binance, down about 2% from its recent high of $1.66 on September 23.
The accumulation by U.S.-based ETF custodians underscores the growing institutional interest in XRP, even as Ripple prepares for potential large-scale releases from its escrow account starting October 01.
Despite significant inflows into these funds, the average investment remains slightly underwater due to current market conditions and price resistance levels for XRP (()Source)
