XRP ETFs Buck Market Downturn With $1.4 Billion Of Inflows

XRP (CRYPTO: $XRP) exchange-traded funds (ETFS) continue to attract investor capital despite ongoing volatility in the broader cryptocurrency market. 

Data from Bloomberg Markets shows that XRP-linked ETFs have attracted $1.4 billion U.S. in net inflows in recent weeks as investors rotate out of gold and silver ETFs. 

Money continues to flow into ETFs that track the spot price of XRP even as ETFs focused on larger and more liquid cryptocurrencies such as Bitcoin (CRYPTO: $BTC) and Ethereum (CRYPTO: $ETH) stagnate. 

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The flows into XRP ETFs also come despite the price of the XRP cryptocurrency falling 33% over the past 90 days to trade at $1.38 U.S. 

JPMorgan Chase (NYSE: $JPM) reports that gold ETFs have suffered close to $11 billion U.S. in outflows over the last three weeks, while silver ETFs have seen a similar decline in popularity.   

Data from SoSoValue shows that cumulative XRP ETF inflows have risen from $150 million U.S. last November to $1.44 billion U.S. today. 

Bloomberg calls the performance of XRP ETFs “really impressive,” especially as the relatively new funds were launched amidst a brutal crypto winter that has resulted in a 45% drawdown in digital assets. 

It’s not clear why the XRP ETFs continue to outperform other crypto ETFs and funds focused on gold and silver. Bloomberg chalks it up to a “shiny object moment” for XRP ETFs.

XRP is the native cryptocurrency of the XRP Ledger and is designed to facilitate fast, low-cost international payments.

XRP acts as a bridge between different fiat currencies such as the U.S. dollar and British pound.