XRP ETFs Pull ₱84.98 billion ($1.44 billion) Despite 50% Price Crash

XRP spot ETFs have pulled in ₱84.98 billion ($1.44 billion) since launching in November 2025, even as the token's price collapsed nearly 50% over the same period.

Bloomberg Intelligence ETF analyst Eric Balchunas said the inflows are nearly impossible for new funds during such drawdowns. He pointed out that XRP launched into a brutal 45% correction, with prices sliding from around $3 in November to $1.40 by March 10. Balchunas said traditional ETF launches face near-impossible odds when experiencing a reverse shiny object moment, especially for brand new products.

The pattern mirrors Solana ETFs, which launched in July 2025 and attracted ₱85.57 billion ($1.45 billion) in cumulative flows despite a 57% price collapse. But Balchunas argued the source of success differs between the two assets. He attributed XRP's resilience to superfans versus casual retail, while Solana draws from a more serious investor base.

Bitwise Chief Investment Officer Matt Hougan said people underestimate XRP due to bearish median opinion. He pointed to a dedicated group of buyers, noting the XRP Army is incredibly bullish and loves XRP. The token has maintained consistent inflows with no single day of net outflows since debut, contrasting sharply with Bitcoin ETFs which recorded ₱141.64 billion ($2.4 billion) in net outflows over the same period.

Canary Capital's XRP spot ETF achieved the number one launch performance among all ETFs in 2025, surpassing the Solana ETF that debuted the same day on November 13. Franklin Templeton's XRP ETF held 118,387,154 XRP as of December 31, valued at approximately $216.37 million at that time.

Ethereum ETFs recorded $898 million in net outflows during the same period, with Franklin Templeton's XRP position representing the largest institutional holding as of the year-end snapshot.