Bloomberg ETF analyst James Seyffart noted that spot XRP exchange-traded funds have “held up pretty well” despite a significant decline in the token’s price, with cumulative inflows exceeding $1.4 billion since their November debut. However, recent data from SoSoValue indicates a shift, showing several consecutive days of net outflows from the ETFs in early March, totaling over $26 million for the month so far.
Spot XRP exchange-traded funds have seen multiple days of investor withdrawals in March. Data from SoSoValue shows net outflows of $26.07 million for the month so far.
This follows a strong initial performance where the funds gathered their first $1 billion in roughly a month. James Seyffart of Bloomberg acknowledged the recent outflows but praised the ETFs’ overall resilience.
“The XRP ETFs have actually held up pretty well despite the massive pullback in price,” Seyffart stated. He reported the funds have taken in a cumulative $1.4 billion since their launch.
The underlying XRP token has indeed experienced a substantial decline. It traded around $2.50 when the first ETF launched in mid-November but fell to a 15-month low of $1.11 in February.
Despite a partial recovery, XRP was still trading below $1.40 recently. This represents a decline of approximately 45% since the ETF debut.
The funds attracted $666.61 million in November and $500 million in December. Inflows slowed to $15.59 million in January before a slight rebound to $58.09 million in February.
SoSoValue data shows specific daily outflows, including $16.62 million on March 6. Outflows also occurred on March 5, March 9, and March 10.
