XRP ETF Inflows Remain Strong Despite Token Price Drop

Despite XRP Price Decline, ETF Interest Remains Solid

On September 10, spot Bitcoin ETFs in the United States recorded net outflows of $282.6 million, marking the third consecutive session of withdrawals. In contrast, XRP-dedicated ETFs continued to attract new investments for a third day in a row, even as the XRP token declined approximately 2.8%, trading near the $1.36 level. This divergence between investor behavior in ETFs and the price evolution of the underlying token becomes the focal point of analysis: are the steady inflows into XRP ETFs a sign of a more stable and distinct holder base, or merely a less visible manifestation of the same volatility affecting Bitcoin ETFs this month?

Crypto ETF flows do not reflect direct changes in asset holdings, but rather measure creations and redemptions of shares within the fund itself—that is, the amount of capital entering or exiting the product, regardless of the direction of the underlying asset’s price movement. A fund can receive net positive inflows on a day when its token falls in price, because buyers add new shares at a faster rate than sellers redeem them, irrespective of whether the market is rising or falling. This was observed with XRP on September 10, when, despite a 2.8% price decline, inflows into the funds continued. This serves as a reminder that demand for ETFs and asset price movement are related but distinct indicators, and conflating the two often leads to costly mistakes by traders who use ETF inflows as a directional price signal.

Crypto ETF flows do not reflect direct

According to SoSoValue data, over the three-day period ending September 10, Bitcoin-linked ETFs collectively withdrew $449.4 million. Net assets in Bitcoin ETFs declined to $97.49 billion from $101.3 billion recorded on September 4. However, cumulative net inflows since launch still total $55.17 billion. This dynamic appears uneven rather than uniformly bearish. For example, on September 3, the same ETFs attracted $730.9 million—the best single-day result since January 14, 2026—before a sharp reversal into outflow by September 10.

In contrast, XRP’s metrics over a longer 20-day period show a different picture. During this span, the funds recorded only one day of outflow—$7.2 million on September 2—and in total attracted $190.5 million. Over the same period, Bitcoin noted seven days of negative flow, Ethereum three, and Solana four, making XRP a clear outlier in flow stability among major crypto ETFs tracked by SoSoValue.

Since launch, cumulative net inflows into XRP ETFs have reached $1.70 billion, with cumulative net assets amounting to $1.45 billion. The pressure on September 10 extended beyond Bitcoin: Ethereum-based products lost $29.8 million, while Solana ETFs saw outflows of $482,547. Meanwhile, smaller products showed the opposite trend: Chainlink ETFs attracted $4.3 million, and Polkadot ETFs received $663,057—the first daily inflow since June 8.