Exchange-traded funds (ETFs) based on the XRP cryptocurrency, which operate on Wall Street, completed 11 consecutive days in positive territory, with accumulated inflows of $756 million since their launch.
The sustained behavior reflects growing institutional interest in the cryptocurrency issued by Rippleeven though its market price maintains a downward trend.
Yesterday, December 1, the four ETFs registered in the United States added $89 million in new inflows, extending the streak they have maintained since mid-November. The chart below shows, day by day, how the capital flows of the XRP ETFs have been.
The flows are mainly concentrated in the ETF managed by the investment firm Canary Capital, which leads the lawsuit with almost $349 million in assets under management. The rest of the capital is distributed among the products managed by Bitwise, Grayscale and Franklin Templeton, which compete to position themselves in a still emerging niche within the regulated digital asset market.
The positive rally in ETFs has not carried over to the price of XRP in the spot markets. During the last seven days, The cryptocurrency fell 9%, falling from $2.28 to $2.02despite the buying pressure in stock market instruments.
This disconnect between institutional interest and XRP performance is not an isolated phenomenon, but rather responds to structural market dynamics. The XRP ETFs trade with modest daily volumes, around $41 million. This contrasts with bitcoin ETFs, which accumulate volumes exceeding 4.69 billion daily.
With only four ETFs competing in the US, XRP products do not generate enough liquidity to absorb sales spot or boost the price immediately. Market makers purchase XRP on the spot market to back ETF holdings, but at this low volume, the impact is diluted against the circulating supply of around 60 billion tokens.
In parallel, Ripple continues to expand its regulated activity. The company reported that the Monetary Authority of Singapore (MAS) approved the extension of authorized operations under its primary payment institution (MPI) license, while last week Ripple USD (RLUSD), the stablecoin issued by Ripple, was authorized for use within the Abu Dhabi Global Market (ADGM) in the United Arab Emirates, as reported by CriptoNoticias.
The sustained flow into XRP ETFs reflects growing demand, although the impact on the price of XRP will depend on additional factors such as market liquidity and share redemption volume. For now, the disconnect between Wall Street and the XRP spot market remains.