U.S.-listed spot XRP exchange-traded funds (ETFs) continue to attract investors, posting their 13th straight day of inflows since launching on November 14, underscoring institutional interest.
XRP ETFs Maintain Flawless Streak
According to ETF data provider SoSoValue, the XRP ETFs drew in $50.3 million in fresh capital on Dec. 3, pushing their total assets under management (AUM) to $874.28 million.
A fund breakdown shows that a single vehicle largely drove Wednesday’s inflows, the Grayscale XRP Trust ETF (GXRP), which pulled in $39.26 million. The ETF has recorded cumulative net inflows of $209.02 million since launch and has net assets of $226.62 million.
Franklin Tempeton’s XRPZ ETF followed with $4.76 million inflows on Wednesday, while Bitwise’s XRP also raked in $3.92 million.
The impressive 13-day run makes the XRP ETFs one of the rapidly growing class of top crypto funds. Closing in on the $1 billion threshold in the span of just one month could indicate growing acceptance and liquidity for the Ripple-affiliated token within traditional finance markets.
XRP is the native asset of the XRP Ledger, an open-source blockchain developed by Ripple. The cross-border payments crypto is down 3.2% over the past 24 hours, according to CoinGecko data.
The launch of the XRP ETFs came nearly five years after the US Securities and Exchange Commission (SEC) lodged a $1.3 billion lawsuit against Ripple and its two top executives. The securities watchdog ultimately dismissed the case in March under the leadership of new Chairman Paul Atkins, officially ending it in August with a $125 million settlement.
With nearly $1 billion in assets now parked inside spot XRP ETFs and the SEC lawsuit now in the rearview mirror, sentiment within the crypto’s ecosystem has turned increasingly bullish. Sustainable ETF inflows could light the fire under the XRP bulls and propel the token higher.
However, the overall crypto market outlook remains delicate and heavily dependent on the Federal Reserve’s interest rate decision on December 10.
Source: https://zycrypto.com/xrp-etfs-approach-1-billion-aum-following-perfect-13-day-run-is-a-meteoric-xrp-price-explosion-brewing/
