XRP ETFs Gain $35M as Bitcoin and Ether Funds Shed $2B in Late May
From May 20 to May 29, U.S.-listed spot XRP ETFs attracted $35 million in net inflows, while spot bitcoin ETFs lost approximately $1.70 billion and spot ether ETFs shed $309 million, according to SoSoValue data. The divergence highlights growing institutional interest in XRP products, which have distinct policy and product narratives, including potential demand as a treasury vehicle. On May 29 alone, XRP ETFs posted $11.88 million in inflows led by Bitwise’s XRP ETF with $7.36 million, followed by Canary’s XRPC ($2.38 million) and Franklin’s XRPZ ($2.14 million). Total net assets in U.S. XRP ETFs now stand near $1.12 billion, roughly 1.37% of XRP's market cap, while cumulative net inflows reach $1.42 billion. In contrast, bitcoin and ether funds face continued redemptions; bitcoin ETFs saw a 10th consecutive day of outflows on May 29 ($125.31 million), and ether funds lost $17.91 million. This trend occurs as XRP remains in the low-$1.30s despite ETF inflows. Meanwhile, a previously reported plan by Ripple Labs to raise at least $1 billion through a SPAC to accumulate XRP in a treasury vehicle, first reported by Bloomberg in October 2025, remains unconfirmed. CoinDesk has reached out to Ripple for updates. If completed, the deal would be among the largest XRP treasury initiatives, reflecting the broader trend of digital asset treasury companies emerging in 2025.
Key facts
- XRP ETFs drew $35M net inflows from May 20-29, while Bitcoin and Ether ETFs lost ~$2B combined.
- On May 29, XRP ETF inflows led by Bitwise ($7.36M), Canary ($2.38M), and Franklin ($2.14M).
- Total net assets in US XRP ETFs reached ~$1.12B, about 1.37% of XRP’s market cap.
- Bitcoin ETFs saw 10th consecutive daily outflow on May 29 ($125M), Ether funds lost $17.91M.
- Ripple’s planned $1B XRP treasury vehicle via SPAC, reported in Oct 2025, remains unconfirmed.