Five tracked U.S. spot XRP exchange-traded funds (ETFs) held an estimated $1.7 billion in assets at the Oct. 6 close, despite weekly net inflows slowing to $3.9 million, according to data tracker Maketo. The deceleration comes as XRP dropped 5.46% over 24 hours to trade around $1.43 on Oct. 7.
ETF Outflows and Divergent Fund Flows
While aggregate net inflows for the five spot ETFs totaled $3.14 million on Oct. 6, performance varied significantly across issuers. Bitwise recorded approximately $11 million in positive flows, outweighing redemptions from competing products. In contrast, Franklin registered $4.1 million in outflows, while Canary experienced $3.3 million in redemptions, with its share count dropping from 23.35 million on Oct. 5 to 23.14 million on Oct. 6. Both Grayscale and 21Shares reported flat daily flows. Over trailing periods, the five funds accumulated $112 million over the past month, holding roughly 1.13 billion XRP in total assets.
Exchange Balances and Escrow Movements
On-chain data from XRP Insights revealed 21.98 billion XRP across 699 publicly attributed wallets at 24 exchanges as of 08:00 UTC on Oct. 7. Total tracked exchange balances dropped by 26.5 million XRP (0.13%) over seven days. Binance balances fell by 33 million XRP, while Upbit added 11.5 million XRP. Although a 30-day view showed a larger 1.63 billion XRP decline, most of this resulted from an Uphold internal storage migration to untracked wallets; excluding Uphold, exchange balances shrank by 75 million XRP (0.54%). Additionally, Ripple released its monthly 1 billion XRP on Oct. 1, re-escrowing 700 million XRP and leaving 300 million XRP available.
Derivatives Volume Dominates Spot Trading
Derivatives markets showed high leverage, with CoinGlass reporting $3.97 billion in 24-hour XRP futures turnover at 14:29 UTC on Oct. 7, compared to $801.56 million in spot volume. Open interest stood at $3.35 billion while XRP traded at $1.4308. The broader market faced sell pressure as Bitcoin fell below $84,000 to $83,100, down from its prior close near $85,558.
Key Takeaways
- Five spot XRP ETFs hold $1.7 billion (1.13 billion XRP), but weekly net inflows slowed to $3.9 million.
- Bitwise led daily inflows with $11 million, offsetting outflows from Franklin (-$4.1M) and Canary (-$3.3M).
- Tracked exchange balances fell 26.5 million XRP in seven days, led by a 33 million XRP drop on Binance.
- Futures turnover hit $3.97 billion, nearly five times the $801.56 million spot trading volume.
Why It Matters
The sharp drop in weekly ETF inflows highlights a cooling period in institutional demand following initial fund launches. With futures turnover outpacing spot volume by nearly five-to-one, short-term XRP price discovery remains driven primarily by derivative leverage rather than spot accumulation. Market participants should monitor whether spot creation activity reaccelerates or if derivative unwinds force broader price pullbacks.
