Spot XRP ETF Experiences First-Ever Outflow of Over $40 Million
- The U.S.-listed spot XRP ETFs recorded a net outflow of $40.80 million on January 8.
- This marks the end of a streak of positive inflows lasting for 36 days, totaling over $1.25 billion.
- Major contributors to inflows included Bitwise ($2.44 million) and Canary Capital’s XRPC ($2.32 million).
- In the same period, spot Bitcoin ETFs lost $486 million, while Ethereum ETFs saw over $98 million in outflows.
- Ripple transferred over $148 million worth of XRP to Binance, contributing to negative investor sentiment.
The recent outflow from the spot XRP ETF reflects shifting investor sentiment amid increased volatility and profit-taking in the broader crypto market. Notably, liquidations exceeded $21 million in XRP within a single day, further intensifying selling pressure.
Despite this setback, the spot XRP ETF still holds approximately $1.60 billion in assets under management as investors monitor ongoing market dynamics and regulatory developments.
