Ethereum and XRP exchange-traded funds (ETFs) saw significant inflows on January 15, despite the price decline in the crypto market. Specifically, Ethereum ETFs led the way with net inflows of approximately $164 million, followed by XRP funds with $17.06 million.
Ethereum ETFs Lead Inflows
Ethereum spot ETFs attracted about $164 million of investments on January 15, based on the daily fund flow data for the top US-based investment firms. This was dominated by BlackRock’s ETHA product, which attracted about $149 million, followed by Grayscale’s ETH product, which attracted about $15 million. The rest of the Ethereum-based ETFs attracted very little flow.
Notably, these inflows come after a series of market volatilities earlier in the month, in which Ethereum ETFs were experiencing losses and gains alternately. Since their listing, cumulative net inflows into Ethereum spot ETFs amount to almost $12.9 billion, indicating steady institutional investment. Nonetheless, these inflows are quite selective, with small ETFs experiencing little movement.
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XRP ETFs Continue Steady Gains
As per data from SoSoValue, U.S. XRP spot ETFs saw a net influx of $17.06 million on Jan. 15, taking the total influx to around $1.27 billion. The total assets under management for XRP ETFs currently stand at approximately $1.51 billion, which is about 1.21% of the total market capitalization of XRP.
However, the inflows were not equal for all the issuers. Bitwise’s XRP ETF recorded the most inflows of $7.16 million, followed by Grayscale’s GXRP with $7.20 million. Franklin Templeton’s XRPZ recorded an inflow of $3.36 million, but Canary’s XRPC witnessed an outflow of $659,000.
Even with these inflows, the prices of XRP ETFs declined alongside the market. This divergence between the inflows and prices suggests that, despite the market pressures, the investments continue to flow into XRP ETFs. Most XRP ETFs declined between 3% and 4% in price.
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