XRP ETFs Shine While Solana Faces Its First Major Test

While traders focused on the selloff in Bitcoin and Ethereum, ETF flow data in the United States shows that big money isn’t exiting crypto entirely. It’s rotating.

Instead of topping up on BTC and ETH exposure, institutions are loading up on XRP ETFs, while the Solana ETF market faces its first real setback since launch.

Solana Stumbles in ETFs — But Not on the Price Chart

Solana investment funds have been one of the hottest products on Wall Street for weeks, but the streak finally snapped. The sector just posted the largest collective outflow in its short history, with more than $13 million pulled in a single day.

The pressure came almost entirely from one product — the 21Shares Solana ETF (TSOL). After a huge $32 million redemption, TSOL’s cumulative withdrawals have crossed $60 million, turning it into the main source of ETF bleed within the Solana family.

Yet the headlines don’t tell the full story.

Other Solana products did not join the selloff. The Bitwise Solana Staking ETF (BSOL) attracted over $17 million in new capital, and the Grayscale Solana ETF added nearly $2 million. BSOL has never recorded an outflow since its debut, suggesting that the exit from TSOL is not an abandonment of Solana — it’s a reshuffling between ETF issuers.

Despite the turbulence, demand remains impressive: Solana ETFs now oversee roughly $790 million in total assets. And even more surprising, the market didn’t punish SOL. The token climbed more than 3% to around $127, even as trading volume cooled — a sign that speculative interest may be fading, but long-term conviction hasn’t evaporated.

Meanwhile, XRP ETFs Become the Week’s Biggest Winner

The other side of the ETF ledger tells a completely different story. XRP products are having their best moment since launch, welcoming about $90 million in new capital, while Bitcoin and Ethereum ETFs continue to see redemptions.

Most of the inflow funneled into the Grayscale XRP ETF (GXRP) — more than $52 million — with Franklin Templeton’s XRPZ grabbing another $28 million. Canary Capital’s XRPC and the Bitwise XRP ETF rounded out the gains with $5.7 million and $3.1 million, respectively.

On-chain behavior reinforces the ETF demand narrative. Smaller whales and shark wallets are fading, but the largest XRP holders — 100 million+ coins — now hold an estimated 48 billion XRP, the highest level in seven years. In other words, supply is migrating from nervous hands to confident hands.

Traders looking for technical confirmation may have noticed something else:

The TD Sequential indicator issued a weekly buy signal, matching the view of analysts who expect the explosive selloff to mark the end — not the beginning — of XRP’s corrective phase.

Price action has gone quiet for now. XRP is sitting near $2.01, consolidating while markets wait for the next catalyst.

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