XRP ETFs see net inflows as Bitcoin and Ethereum funds face outflows

On September 9, the U.S. cryptocurrency ETF market showed significant divergence in capital flows. XRP ETFs were the only category to record net inflows, with five different products totaling approximately $1.98 million in new capital. Over the past 30 days, XRP ETFs have seen cumulative inflows of $173 million.

In contrast, major Bitcoin and Ethereum ETFs experienced substantial outflows. Bitcoin ETFs saw a total net outflow of approximately $47 million, driven largely by Grayscale’s GBTC, which recorded single-day redemptions of $66 million. Analysts attribute these outflows to Grayscale’s high management fee of 1.50%, which is significantly higher than competitors like BlackRock’s IBIT, which charges only 0.25%.

Ethereum ETFs also faced pressure, with a net outflow of roughly $24 million. While Fidelity’s FETH saw an inflow of $10 million, Grayscale’s two Ethereum products combined for a $34 million loss. These movements suggest a market shift toward lower-cost investment products and an increasing diversification of capital beyond Bitcoin and Ethereum.