u.today
$XRP spot exchange-traded funds (ETFs) have extended their streak of daily net inflows to nine consecutive trading days on Aug. 25. Investors added $23.87 million to the products despite a broader crypto market sell-off.
According to SoSoValue data, the latest inflow pushed cumulative net inflows into U.S. spot $XRP ETFs to a rather impressive $1.6 billion. The funds held $1.46 billion in net assets at the close of trading.
Bitwise is in the lead
Bitwise's $XRP ETF led the inflows on Tuesday with $11.02 million. Franklin Templeton's fund is second with $6.39 million. Grayscale's $XRP ETF attracted $4.28 million. Canary Capital recorded another $2.19 million. The 21Shares $XRP ETF reported no net flow for the day.
U.S. spot $XRP ETFs recorded no combined inflows on Aug. 14 and Aug. 17, but returned to positive territory with $5.81 million on Aug. 18.
They then attracted $2.35 million on Aug. 19, $13.24 million on Aug. 20, $18.38 million on Aug. 21, $13.82 million on Aug. 24 and $23.87 million on Aug. 25.
Over the last five days, the funds have attracted about $77.5 million over the latest five trading sessions alone. Last week, for example, they recorded approximately $39.8 million in net inflows.
Growing demand
Flows were relatively stagnant during the first part of the month. There were several consecutive days recording zero net inflows. Cumulative inflows remained around $1.51 billion between Aug. 5 and Aug. 18. However, there was a great increase in the second part of the month (from Aug. 18 onward).
The funds attracted $5.81 million on Aug. 18, $2.35 million on Aug. 19, $13.24 million on Aug. 20, $18.38 million on Aug. 21, $13.82 million on Aug. 24, and $23.87 million on Aug. 25.
$XRP is currently trading at $1.44, according to CoinGecko data. It is up 40% over the past two weeks.