XRP’s ETFs Are $160 Million Behind Solana’s and Closing. Solana’s Funds Have Had Outflows on Six of Seven October Days.
Quick Read
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XRP ETFs trail Solana’s by $160 million in net assets, but Solana funds bled cash on 6 of 7 October days while XRP funds gained.
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Investors are withdrawing from Solana despite it outperforming XRP by nearly 10% vs 3% over the past 30 days, signaling a sentiment disconnect.
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A new Hong Kong Solana ETF and Evernorth’s Nasdaq listing could reverse or accelerate the gap-closing trend before 2027.
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Exchange-traded funds (ETFs) holding Solana (CRYPTO:SOL) have seen significant withdrawals, with outflows on six of seven days in October 2026. This trend might help XRP (CRYPTO:XRP) funds catch up. According to SoSoValue, which tracks crypto fund movements, Solana funds currently hold $1.73 billion in net assets, while XRP funds have $1.57 billion—a $160 million difference.
Surprisingly, Solana’s funds had only one positive day, on October 2. In contrast, XRP funds saw net inflows over the past week, even though XRP was trading at $1.40 as of October 12, down 7.7% over the past week. Solana, on the other hand, is priced at $111, down 8.2% during the same period.
So, can XRP’s funds surpass Solana’s in assets, or is this recent selling trend simply a temporary glitch?
Why Fund Flows Say More About Investors Than Net Assets
Fund flows reveal what investors are choosing to do, unlike net assets, which measure the dollar value of everything a fund holds. When new cash enters a crypto ETF, the fund creates shares and buys more of the underlying cryptocurrency. Conversely, if investors pull cash out, the fund cancels shares and sells off some of the crypto. A net inflow means more money came in than left on a given day, while a net outflow indicates the opposite.
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Net assets can fluctuate with cryptocurrency prices. For example, if Solana drops in value, all Solana funds’ assets drop too, even if no one sells their shares.
Recent price swings affect the net assets for both XRP and Solana. Both cryptocurrencies are down—Solana by 8.2% and XRP by 7.7% over the last week—so the changes in their fund assets partly reflect price movements rather than investor actions.
Solana ETFs Saw Outflows While XRP ETFs Took In Cash
The disparity between fund flows highlights a genuine shift in investor sentiment. Solana funds lost money on six of the seven days in October, while XRP funds saw net inflows over the past week. This distinction strongly suggests XRP funds are gaining traction.
However, this analysis is based on a short timeframe. One week of inflows doesn’t establish a long-term trend, and fund flows can change quickly because a handful of large transactions by a few institutional investors can shift portfolios.
Both cryptocurrencies are trading well below their all-time highs—Solana is 62% lower, and XRP is 61.6% below its peak—putting pressure on holders of both coins. Interestingly, over the past 30 days, Solana has performed better, climbing 9.9% compared with XRP’s 2.6%. Yet, investors are withdrawing from the stronger coin, revealing a contradiction between fund flows and price performance.
A Hong Kong Solana Fund and Evernorth’s Listing Could Swing the Flows
A second Solana fund is set to launch in Hong Kong on October 13, offering investors another way to gain exposure to Solana. However, the fund still needs fresh investment to move overall fund flows.
Meanwhile, the reasons behind XRP’s inflows remain uncertain. It could be linked to specific events like the Nasdaq listing of Evernorth, a financial company that holds XRP as a core asset, or it may signal a lasting shift in demand. However, such spikes often fade once the initial excitement diminishes.
Can XRP’s ETFs Overtake Solana’s ETFs Before 2027?
The gap between the two may continue to narrow, but it is unlikely to close before 2027. Solana’s recent outflows have only spanned seven sessions, and XRP’s inflows have been just a week long, with potential for a one-time boost. For XRP’s funds to surpass Solana’s, we would need ongoing outflows from Solana while XRP maintains its inflow momentum, and Solana would need to avoid significant rallies that could widen the gap.
The clearest test will be if there’s a week where the gap decreases despite Solana performing better than XRP. Such a scenario would indicate that investor sentiment is truly shifting. However, if XRP’s inflows taper off while Solana’s funds rebound after the Hong Kong launch, it may just indicate that October’s outflow streak was a temporary blip. But if Solana’s funds continue to show net outflows while XRP gains ground, XRP could close the gap sooner than anticipated.
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