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Following Bitcoin (BTC) and Ethereum (ETH), spot ETF applications have been accepted for many altcoins in the US. One of these altcoins is $XRP, which has gained legal clarity in the US.
The picture for $XRP ETFs was positive, with spot $XRP ETFs seeing their largest net inflow since their launch in January.
According to SoSoValue data, US spot $XRP ETFs saw net inflows of $25.8 million on Monday. Franklin Templeton’s XRPZ fund led the way with $13.6 million inflows, followed by Bitwise’s $XRP fund with $7.6 million and Grayscale’s GXRP fund with $4.6 million.
On May 11, net inflows into $XRP ETFs reached $25.8 million, the largest daily inflow since $46 million recorded on January 5.
One analyst said that this quiet accumulation in $XRP “shows institutional investors’ confidence in $XRP.”
Speaking to The Block, Bitrue senior researcher Andri Fauzan Adziima stated that as $XRP matures and becomes an established asset class, capital is flowing back into $XRP.
He also added that $XRP benefits from gaining regulatory clarity and its use in real-world payments.
Adziima notes that a sharp rise in the $XRP price has not yet occurred, but he characterizes this activity in $XRP ETFs as a quiet accumulation phase.
The analyst added that this also signals $XRP’s consolidation of its position alongside other major cryptocurrencies.
*This is not investment advice.