Spot XRP ETF Records First $40 Million Outflow
- Spot XRP ETF sees first $40M outflow after significant inflow streak.
- Spot XRP price pullback linked to profit-taking and macro trends.
- Broader cryptocurrency market experiences outflows in tandem.
Spot XRP ETFs in the U.S. experienced their first net outflow of approximately $40.8 million, driven by 21Shares’ TOXR redemptions amid broader crypto ETF outflows.
This significant outflow highlights market profit-taking and institutional rebalancing after XRP’s price surge to $2.40, impacting overall crypto sentiment.
Spot XRP ETF recorded its first significant outflow of approximately $40.8 million, following a period of consistent inflows. This change was primarily influenced by 21Shares TOXR redemptions totaling around $47.25 million. Prior to this, XRP had experienced a notable rally moving towards $2.40.
The main entities involved include 21Shares, along with Bitwise, Canary Capital, Grayscale, and Franklin Templeton. The outflows were primarily driven by 21Shares, while other issuers reported minor inflows. Ripple’s large XRP transfer to Binance also added to the negative sentiment observed.
“The market saw a significant redemption today, reflecting broader investor behavior in a volatile crypto landscape after XRP’s price surge.” — Hany Rashwan, Co-Founder & CEO, 21Shares
The outflow coincided with broader cryptocurrency ETF withdrawals, including Bitcoin and Ethereum ETFs, indicating a macro-driven risk-off pattern rather than XRP-specific issues solely. The spot price of XRP saw a significant decline exceeding 6% during the outflow period.
Financial implications extend to the reduction of total AUM of spot XRP ETFs from around $1.6 billion to $1.53 billion. This outflow aligns with broader market conditions, reflecting profit-taking and institutional rebalancing after recent gains in cryptocurrency prices.
Similar events in the past include 21Shares Solana ETF outflows and recurrent BTC and ETH ETF redemptions in profit-taking scenarios. These typically act as short-term corrections rather than reversing longer-term investment trends. Overall, the XRP ETFs maintain cumulative net inflows exceeding $1.2 billion since launch.
