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Institutions Dump Bitcoin, Ethereum, And Solana For XRP, Here’s The Trigger

Institutional investors last week dumped Bitcoin, Ethereum, and Solana for XRP. This came as BTC, ETH, and SOL recorded major outflows while XRP bucked the trend, with significant inflows. 

Institutions Offload Bitcoin, Ethereum, Solana For XRP

A CoinShares report showed that Bitcoin, Ethereum, and Solana funds saw outflows of $1.27 billion, $589 million, and $156 million, respectively. Meanwhile, the XRP funds recorded net inflows of $89.3 million last week. Notably, XRP was one of the few altcoins to see inflows, as crypto funds as a group posted total outflows of $1.94 billion last week. 

This marked the 4th consecutive week of outflows for crypto funds, totaling $4.92 billion and representing 2.9% of total assets under management (AuM). The CoinShares report also noted that this is the 3rd largest run of outflows since 2018, only topped by March 2025 and February 2018. Despite these outflows, the total inflows into Bitcoin, Ethereum, Solana, XRP, and other crypto funds this year remain high at $44.4 billion. 

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It is worth noting that the U.S. spot XRP ETFs were launched just recently, which could explain why they are attracting the most attention from institutions over Bitcoin, Ethereum, and Solana. SoSo Value data shows that U.S. spot XRP funds recorded net inflows of $199.45 million last week, which is why XRP saw net inflows despite outflows across the board. 

Inflows into the XRP funds have come despite the crypto market’s downtrend. Bitcoin, Ethereum, Solana, XRP, and other coins have also suffered significant price crashes during this period. However, the inflows into the U.S. XRP ETFs have provided a boost for the XRP price, which has again climbed above the psychological $2 level after dropping to as low as 1.8 last week. 

XRP Funds Continue To Lead The Way This Week

SoSo Value data shows that XRP funds continue to lead the way this week in terms of inflows, ahead of Bitcoin, Ethereum, and Solana. The U.S. spot XRP ETFs as a group have seen a net inflow of $199.45 million over the first two trading days of this week. Specifically, they recorded a net inflow of $164.04 million on November 24, thanks to the launch of the Grayscale and Franklin Templeton XRP ETFs. 

Grayscale and Franklin Templeton’s XRP ETFs saw inflows of $67.4 million and $62.6 million, respectively. It is worth mentioning that 21Shares, CoinShares, and WisdomTree are yet to launch their XRP funds. As such, the inflows into these funds as a group could still increase significantly when they launch. Canary Capital CEO Steven McClurg had earlier predicted that these funds could take in $10 billion in inflows in their first month of trading.

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from Bitcoinist.com https://ift.tt/TMC0qgm
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