Why are Bitcoin ETFs falling while only XRP Spot ETFs are rising?

▲ XRP (XRP, ETF/ChatGPT generated image ©

XRP (XRP, Ripple) spot ETFs recorded capital inflows alone amidst massive outflows from Bitcoin and Ethereum ETFs, revealing a selective shift in institutional funds.

According to investment media TradingNews on April 30 (local time), US XRP spot ETFs recorded a net inflow of $3.59 million on April 29. This is in contrast to the overall weakness in the major cryptocurrency ETF market on the same day, with $137.77 million exiting Bitcoin (BTC) spot ETFs and $87.73 million exiting Ethereum (ETH) spot ETFs.

The flagship product, XRP ETF (XRPI), closed at $7.68, up 1.32%, and traded within a range of $7.64-$7.70 during the day. The Rex-Osprey XRP ETF (XRPR) rose 1.63% to $11.23, with its 52-week trading range reported as $9.50-$25.99. The total cumulative net inflow for XRP spot ETFs reached $1.3 billion, and total net assets were $1.04 billion, accounting for 1.23% of XRP's market capitalization.

The products leading the capital inflow were Bitwise XRP ETF, with a new inflow of $2.12 million, and Franklin XRPZ, which saw an inflow of $1.47 million. Canary Capital XRPC, 21Shares TOXR, and Grayscale GXRP, among others, had no net inflows on the day but also showed no redemption pressure. The media interpreted this not as simple chase buying but as institutional low-price buying leveraging price weakness.

Another signal of institutional demand is Goldman Sachs' 13F filing. Goldman Sachs was reported to hold $153 million in XRP-linked ETFs as of Q4 2025. This, along with $1.1 billion in Bitcoin ETFs and $1 billion in Ethereum ETFs, positions XRP within institutional cryptocurrency investment portfolios, leading to the interpretation that Wall Street has begun to view XRP as a differentiated investment asset rather than just another altcoin.

Based on spot prices, XRP traded in the range of $1.36951-$1.40, with a market capitalization of approximately $84.5 billion and a 24-hour trading volume of $2.41 billion. Technically, the $1.30 support level remains a key defense line, and a breakthrough of $1.45 and $1.50 suggests a potential rise of about 53% to $2.00 according to a symmetrical triangle pattern. Conversely, if $1.30 breaks, the potential break of $1.27 is identified as the next risk signal.

The media cited several factors behind the strength of XRP spot ETFs: the establishment of approximately $2 billion worth of XRP-centric corporate treasuries by eight listed companies, the expansion of Ripple's payment infrastructure, and increased ecosystem exposure due to the XRP Las Vegas 2026 (XRPLV26) event held in Las Vegas. In conclusion, XRPI and XRPR are the most prominent products that have seen selective institutional capital inflows even amidst the bearish market for Bitcoin and Ethereum ETFs, and if XRP moves towards the $2.00 target, key targets of $11-12 and $15-17 were suggested for XRPI and XRPR respectively.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*