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XRP recently led daily cryptocurrency ETF fund flows, beating bitcoin (BTC), <a href="https://xpertsstudio.com/one-company-holds-4-9-of-ethereum-as-pepeto-takes-center-stage/” title=”One Company Holds 4.9% of Ethereum as Pepeto Takes Center Stage”>ethereum (ETH) and solana (SOL).
On Sept. 9 (local time), blockchain media outlet U.Today reported that XRP ETFs posted net inflows of $1.55 million on Sept. 8, while bitcoin, ethereum and solana ETFs all ended the day with net outflows.
The move came as participation across the broader crypto ETF market slowed. As major cryptocurrencies showed mixed price moves, institutional investors’ interest has been gradually weakening, and momentum in the ETF market has also been fading. In that environment, XRP was the only major asset to attract new money.
Bitcoin saw the biggest outflows. Bitcoin ETFs recorded total net outflows of $46.65 million that day. Ethereum ETFs lost $24.29 million, and solana ETFs saw $667,720 exit. By contrast, XRP ETFs saw inflows again after there was no participation at all the previous day. The figures reflect that the XRP ETF ecosystem recovered demand after a day of zero participation.
Measured only by the size of inflows, the increase in XRP ETF money was not large. Still, it stood out that only XRP was positive on a day when the overall market shrank. That shows investors wanted exposure to XRP through regulated ETF products rather than other assets. The fact that XRP was the only asset to draw new money that day shows the direction of fund flows diverged in the short term.
Prices also rebounded in tandem with the recovery in ETF demand. XRP rose about 3 percent over the past day to regain $1.43. It returned to gains despite continued market volatility, and a view has emerged that expectations for further price gains could grow if ETF demand continues.
Market participants are again looking toward the $2 level. Traders are becoming increasingly optimistic about the possibility of XRP breaking through $2 as momentum builds. However, the direct basis U.Today identified is limited to ETF inflows and the recent price rebound. The key point to watch, therefore, is whether inflows into XRP ETFs will be a temporary recovery or continue as a trend distinct from other major crypto ETFs.
About the Author
Jinju Honghongjj@d-today.co.kr
Keyword
#XRP#Bitcoin#Ethereum#Solana#U.TodayCopyright © DigitalToday. All rights reserved. Unauthorized reproduction and redistribution are prohibited.
Source: www.digitaltoday.co.kr