XRP ETFs defy 45% dump as ‘Superfans’ keep buying

Ripple’s XRP-linked exchange-traded funds are bagging the fresh capital despite a sharp decline in the market. Data shows that XRP ETFs have recorded more than $1.4 billion in net inflows since their launch in November 2025. The inflows have continued even as XRP has fallen sharply from recent highs. This shows a resilient investor demand even as crypto markets remained volatile, printing red indexes.

After witnessing a long losing streak, the cumulative digital assets market rode the recovery rally on Tuesday night. The total crypto market cap jumped by around 3% over the last day to stand at $2.40 trillion. Its 24-hour trading volume spiked by 5.4% to hit $116 billion.

XRP ETFs pull in $1.4B 

James Seyffart, Research Analyst within Bloomberg Intelligence, in a post mentioned that XRP ETFs have “actually held up pretty well despite the massive pullback in price.” He added that the funds have taken in a cumulative $1.4 billion since launch.

This comes in when the XRP price dipped as low as the $1.33 zone, following a sharp decline from earlier levels. XRP has declined by almost 33% over the last 90 days, and is running down 24% YTD. However, the fresh surge of 2.5% in the last 24 hours has helped it to regain the $1.38 level. XRP’s 24-hour trading volume is up by 39%, hovering around $3.4 billion.

Despite that pullback, inflows into the ETF products have continued steadily. SoSoValue data shows cumulative inflows currently around $1.22 billion. New numbers that Seyffat mentioned are yet to come in. Its total net assets are near $971 million across the ETF complex. That represents roughly 1.16% of XRP’s total market cap.

Bloomberg senior ETF analyst Eric Balchunas said the inflows are notable given the market conditions surrounding the launch. He stated that, like Solana, this is really impressive given these launched into a brutal 45% drawdown.” Balchunas wrote. “Traditionally, inflows are near impossible for ETFs having a reverse shiny object moment, and esp if they are brand new.”

Balchunas added that the flows may reflect strong support from dedicated XRP investors rather than casual retail traders. “My guess is this is largely XRP super fans vs casual retail,” he wrote.

Solana ETFs hold strong 

Regulatory filings provide a partial view of institutional participation behind those flows. Recent 13F disclosures show several large financial firms reporting exposure to XRP ETF products. This includes Goldman Sachs with about $153.8 million in holdings.

Other institutions reporting positions include Millennium Management with roughly $23 million, Citadel Advisors with about $5.2 million, and Jane Street with around $1.9 million. Data shows that about 15.9% of the $1.34 billion in assets under management across the funds was tied to some famous firms. The recent accumulation shows that there is a mix of hedge funds, trading firms, and asset managers. All of these players have already entered the market.

Still, analysts say the structure of the investor base differs from that of other recently launched crypto ETFs. Bloomberg’s Seyffart noted that Solana ETFs appear to be attracting a larger share of industry-native institutional capital. However, XRP products show stronger retail participation.

This comparison comes into the spotlight as Solana ETFs have also attracted strong inflows. Since its launch in mid-2025, Solana ETFs have bagged around $1 billion in net inflows. They have drawn $173 million so far in 2026 alone.

Balchunas mentioned that the Solana products have managed to hold onto those assets even though the token itself has fallen more than 50% since the ETFs debuted. He added that about half of the assets in Solana ETFs come from institutional investors disclosed through 13F filings. He added that early Solana ETF inflows are equivalent to about $54 billion of net flows relative to bitcoin’s market cap at a similar stage. 

Solana price has dropped by 31% since the beginning of the year. It is down by more than 70% from its all-time high of $294.3. SOL is trading at an average price of $85.84 at the press time.