After multiple weeks of significantly outperforming other ETF products and recording substantial amounts of fresh capital intake, institutional interest in XRP appears to be slowing.
Although the XRP ETFs still retain their weekly dominance over Bitcoin and Ethereum ETFs, they have barely seen a positive week as only a small amount of capital flowed into the funds in the last week.
XRP posts $2.62 million in weekly ETF inflow
While XRP seemed to have begun the new month on a more subdued note in its trading price, this also extended to its ETF market as the funds saw their first withdrawal since May 4 during the week.
Thus, data from SosoValue shows that the XRP ETFs attracted only $2.62 million in fresh capital over the last week.
While this marks their weakest weekly performance since May 8, it appears that the heightening market volatility is beginning to influence institutional interest in XRP.
It is important to note that the funds still stand out against both Bitcoin and Ethereum ETFs as they have once again recorded massive weekly outflows.
Following the consistent intake of new capital by the XRP ETFs, they have seen their cumulative net inflows reach a massive $1.43 billion as they continue to retain institutional participation despite market volatility reaching extreme levels.
XRP retests $1.0
Following the weak market performance, XRP is back to 2024 levels, retesting prices not seen in the past two years.
It is quite surprising that XRP has managed to retain institutional interest in its ETF products as the asset has continued to see massive selloffs and its price has dipped significantly, retesting $1.0.
Analysts are still hopeful that the sustained institutional interest could be a potential driver for a sharp price recovery in the near future.
U.Today Editorial Team
Dan Burgin
