Key Highlights
On December 29, US spot XRP ETFs recorded an impressive $8.44 million in daily net inflows. This has resulted in a remarkable cumulative total of $1.15 billion in net inflows. However, despite the notable performance of these ETFs, XRP’s price remains stagnant, struggling to reach the $2 mark.
XRP ETF Inflows Maintain Steady Growth
Throughout a turbulent December, the US spot XRP Exchange Traded Funds (ETFs) have demonstrated resilience, marking a 29-day streak of consistent inflows. As of the latest data, these funds have achieved a daily net inflow of $8.44 million, leading to a cumulative total that has increased to $1.15 billion, up from approximately $1.12 billion just a week prior. Vincent Liu, Chief Investment Officer at Kronos Research, noted that these inflows are influenced by regulatory clarity and a growing interest in XRP as a less competitive investment compared to Bitcoin and Ethereum. He emphasized that XRP’s utility in cross-border settlements provides unique investment opportunities that attract long-term capital. In December alone, XRP-related funds saw an influx of $478 million. Despite this positive trend in ETF inflows, XRP’s price has failed to mirror this momentum, currently trading at $1.86, which reflects a 0.82% decline within the last 24 hours. This positioning maintains XRP’s status as the fifth-largest cryptocurrency, with a market cap of $112.7 billion.
New Altcoin ETFs Set to Launch
As the ETF market continues to flourish, several crypto issuers are preparing to introduce additional ETFs. In December, Bitwise filed an S-1 with the US Securities and Exchange Commission (SEC) to create the first US spot ETF focused on the SUI token, following previous ETF initiatives centered around Bitcoin, Ethereum, Solana, and XRP. Concurrently, Canary Capital submitted an S-1 filing for a staked Injective ETF, which is expected to be listed on Cboe. If approved, this ETF will offer investors regulated access to the INJ token, along with the potential to earn staking rewards, although specific staking partners have yet to be disclosed.
Disclaimer
Coinspeaker is dedicated to delivering objective and transparent news coverage. This article is intended to provide accurate and timely insights; however, it should not be construed as financial or investment advice. Given the rapid fluctuations in market conditions, we advise readers to independently verify information and consult with a financial professional prior to making any investment decisions based on this article.
