XRP Spot ETF, $7.29 Million Exodus...Holding Strong Until Now, Largest Outflow Since March

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The XRP spot ETF, which had been resilient despite the sharp decline in the cryptocurrency market this year, saw an outflow of $7.29 million in one day, marking the largest capital flight since March.

According to the cryptocurrency media outlet U.Today on July 9 (local time), the XRP spot ETF recorded a net outflow of $7.29 million on July 8. This is the largest daily capital outflow since March, and Bitwise XRP ETF bore the entire redemption amount.

The cumulative net inflow for the Bitwise XRP ETF still stands at $494 million. While this $7.29 million outflow is only a fraction compared to the total funds attracted since the product's launch, it is noteworthy because it indicates a break in the trend of the XRP spot ETF, which had been relatively resilient amidst capital outflows from Bitcoin and Ethereum investment products.

Capital flows have been volatile recently. The XRP spot ETF recorded zero net inflows and outflows on July 6 and 7, and saw an inflow of $6.55 million on July 2. Previously, $1.86 million flowed out on July 1, and net inflows of $15.34 million and $15.63 million were recorded on June 29 and 26, respectively.

However, there is a significant difference from this year's largest capital outflow record. The XRP spot ETF recorded a net outflow of $93 million in a single day on January 29. Despite the recent $7.29 million outflow, the total cumulative net inflow for all approved XRP spot ETFs remains at approximately $1.4 billion.

[Article Key Summary]

-The XRP spot ETF recorded a net outflow of $7.29 million on July 8, marking the largest daily capital outflow since March.

-The entire $7.29 million redemption occurred from the Bitwise XRP ETF, and the cumulative net inflow for this product is $494 million.

-The total cumulative net inflow for all approved XRP spot ETFs remains approximately $1.4 billion, despite recent capital outflows.

*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.*