CNBC has highlighted the strong performance of XRP exchange-traded funds (ETFs) during a bear market, as investors seek alternatives to Bitcoin and Ethereum. Over the past few weeks, roughly $10 billion has flowed out of Bitcoin and Ethereum ETFs as their prices declined. This week alone, Bitcoin ETFs recorded three days of outflows totaling approximately $800 million, with only one day of inflows. Ethereum ETFs, on the other hand, did not register any inflows this week, with outflows surpassing half a billion dollars.
While Bitcoin and Ethereum ETFs have been shedding assets, XRP has been a key beneficiary of this rotation. The XRP ETF has recorded consistent inflows, now exceeding $1 billion. Five XRP post-ETFs are live, and they have collectively pulled in $1.14 billion in total assets over the past month since their launch. This growth occurred even as XRP’s price dipped.
During the interview, CNBC guest Sui Chong, an expert from CF Benchmarks, explained that XRP is attracting investors due to its longevity and well-established presence in the market. XRP’s track record offers a sense of familiarity and trust for many investors, which has helped fuel its rise in the ETF space. XRP’s appeal comes from its resilience in tough markets and strong price performance over the years. Solana ETFs have also seen impressive growth, with over $600 million flowing into Bitwise’s Solana ETF; other Solana ETFs include products from Grayscale, Fidelity, VanEck, 21Shares, Franklin, Invesco, and Canary.
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