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It has been a few weeks since the first XRP ETF debuted in the US – here’s how it’s going.
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After months and months of building anticipation and online speculation, the second-largest altcoin joined the two market leaders in having its own exchange-traded funds tracking its performance on November 13.
Here’s how XRP compares in terms of inflows and price movements in its first weeks against BTC and ETH.
Bitcoin ETF Debut and Price Moves
Following a decade of SEC rejections and delays at best, the US regulator finally greenlighted a bunch of spot Bitcoin ETFs in early 2024. The launch date was set on January 10, and, somewhat expectedly, the underlying asset’s price tumbled immediately in a classic sell-the-news event.
BTC had risen to $48,000 at the time, but quickly dipped below $40,000. However, that short-term correction couldn’t keep the asset from rising in the following weeks. In fact, Bitcoin had charted a new all-time high within two months of well over $73,000.
A sizeable portion of those gains came on the heels of the impressive ETF inflow numbers. Aside from Grayscale’s converted trust (GBTC), which was almost always in the red, most other BTC ETFs were gaining traction, especially BlackRock’s IBIT. Just a few days before BTC’s ATH, the cumulative net inflows into all ETFs skyrocketed above $1 billion (on March 12), which undoubtedly benefited the underlying asset.
Overall, the Bitcoin ETFs had a highly successful debut, which has (mostly) continued ever since with over $57 billion in cumulative net inflows in less than two years. BTC also trades nearly 2x its price on the ETF debut day.
ETH’s Disappointment
Needless to say, ETH also dumped after the release of the ETFs tracking its performance. The debut day was July 23, 2024, and Ether went from $3,600 to under $2,200 in about two weeks.
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However, this wasn’t just a one-off sell-the-news event as with BTC. The ETFs couldn’t pick up the pace for months, as the Grayscale withdrawals overshadowed the minor net inflows. In fact, the Ethereum ETFs couldn’t stage an impressive inflow streak until the end of the year. ETH’s price reflected that with a massive surge from under $2,500 to over $4,000 in December 2024.
Since then, the ETH ETFs have been mostly stable and positive. However, the largest altcoin’s current price is below its valuation on July 23, 2024.
How Does XRP Compare?
The first XRP-based ETF with 100% exposure to the asset went live on November 13. Canary Capital’s XRPC broke the 2025 record for highest trading volume on day 1. Three more such financial vehicles followed suit in the next few weeks.
The total inflows are close to $900 million. There hasn’t been a single day in which the net outflows have overshadowed the net inflows, and the streak remains intact even though the demand has slowed down a bit.
Yet, XRP’s price has followed the overall trend. It dumped on November 13 from over $2.50 to under $2.30 and has been unable to stage a notable recovery. Even though it rebounded from the multi-month low of $1.83 reached on November 21, it currently trades at $2.03, which is well below the debut day price.
Nevertheless, the XRP ETFs have outperformed the BTC and ETH counterparts since Canary Capital’s product debuted, which should be considered as a bullish sign for the underlying asset if the inflows continue.
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Source: https://cryptopotato.com/the-etfs-battle-where-does-ripple-xrp-rank-vs-bitcoin-btc-and-ethereum-eth/
