Under CEO Jenny Johnson, the firm has actively experimented with node operation, tokenized money market funds on Polygon and Stellar, and now, a pioneering role in $XRP.
Stagnating flows
According to the data provided by SoSoValue, the market has entered a period of stagnation regarding new capital inflows, despite healthy trading volumes and positive price action across the underlying asset.
The sector currently holds $1.06 billion in total net assets. This represents approximately 1.17% of the total $XRP market capitalization.
The daily total net inflow across all five major issuers flatlined at $0.00. This pause comes on the heels of a volatile two-week period.
Canary Capital (XRPC) maintains the top spot in total net assets with $283.33 million, holding a narrow lead over Bitwise’s $272.84 million. Interestingly, this dominance comes despite Canary carrying the highest listed fee at 0.50%.
In contrast, Franklin Templeton (XRPZ) is aggressively positioning itself as the low-cost leader with a 0.19% fee. Franklin currently sits in third place with $243.60 million in assets.
The market is still recovering from a shock to the system in late January, and this applies to $XRP ETF flows as well.