U.S. spot XRP exchange-traded funds reported negative total daily net flows for the first time, ending a 36-day streak of trading without outflows.
According to data from SoSoValue, the five XRP funds reported a total net outflow of $40.8 million on Wednesday. 21Shares’ TOXR was the only fund to see net outflows with $47.25 million moving out from the ETF, while funds from Canary, Bitwise, and Grayscale saw comparatively small net inflows of around $2 million.
Before Wednesday, the XRP funds accumulated a total net inflow of $1.25 billion since the launch of Canary’s XRPC on Nov. 13 last year.
“The first net outflows from U.S. spot XRP ETFs represent a notable shift,” BTC Markets Crypto Analyst Rachael Lucas told The Block. “However, the scale is modest, less than 3% of cumulative inflows since launch.”
Lucas said the outflows appear to be a result of profit-taking after XRP recently rallied to $2.4 from $1.8 in a week, combined with a broader market pullback.
“On-chain indicators, including historically low exchange reserves and elevated transaction volumes, continue to signal underlying strength,” Lucas said. “If inflows resume, XRP could retest the $3 level.”
More outflows
Alongside XRP ETFs, spot bitcoin and ether funds saw sizable net outflows yesterday. Bitcoin ETFs reported a total net outflow of $486 million, where Fidelity’s FBTC lost $247.6 million, and BlackRock’s IBIT saw $130 million leave the fund. Over $700 million worth of funds have left bitcoin ETFs in the past two days.
Ethereum ETFs saw a combined net outflow of $98.5 million on Wednesday, led by $52 million exiting Grayscale’s ETHE. This marks the first net outflow day for ETH ETFs in 2026, after having seen $457 million in inflows in the first three trading days of the year.
“[The outflows] reflect typical post-rally rebalancing and leverage unwinds following Bitcoin’s surge to $94,000,” Lucas said. “Despite the short-term volatility, cumulative Bitcoin ETF assets remain above $100 billion, while Ethereum continues to exhibit healthy on-chain activity, including bridging inflows and accumulation trends.”
According to The Block’s crypto price page, bitcoin is down 2.44% in the past 24 hours, trading at $90,290, while ether has fallen 3.76% to trade at $3,125. XRP is down 5.54% to $2.13. Lucas said a price recovery is plausible if bitcoin holds above $90,000 and ether maintains the $3,100 level.
“Crypto has been weaker relative to other asset classes, with investors feeling more comfortable taking positions in stocks than in crypto,” said Min Jung, Research Associate at Presto Research. “That dynamic appears to be continuing, and is reflected in both price action and ETF flows.”
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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