XRP ETF Buyers Refuse to Quit Despite Sitting on a $230M Paper Loss

Bitwise’s $XRP ETF took in $10.55 million, nearly the entire weekly total, while three of the five sessions logged zero net flow. Oct. 6 added $3.14 million, and Oct. 8, the day $XRP slid to $1.32, brought $8.17 million, the biggest daily print since Sept. 25.

Franklin Templeton’s XRPZ added $4.10 million and Canary Capital’s XRPC went the other way, posting the week’s largest outflow at $3.34 million.

Consequently, the lifetime scoreboard shifted too, with Bitwise now sitting on $688 million in cumulative net inflows, ahead of XRPZ at $509 million and XRPC at $487 million.

Put plainly, the streak survived on one dip-buying session and one issuer. Strip out Bitwise and every other fund combined added only about $760,000 on net.

The Gap Nobody Is Talking About

Sosovalue puts total $XRP ETF net assets at $1.57 billion, or about 1.80% of $XRP’s market capitalization. Cumulative net inflows since launch stand at roughly $1.8 billion. That leaves the funds’ combined holdings worth about $230 million less than the money investors have put in. Even treating it as a rough gauge rather than a precise loss figure, the direction is clear.

In fact, the gap has widened recently given that on Oct. 7, the same split came in at about $97 million, with $1.794 billion of inflows against $1.697 billion in assets. A few sessions of $XRP weakness more than doubled the paper loss, and buyers still added money on net.

Why Keep Buying a Falling Coin?

$XRP’s ETF crowd is behaving differently from the rest of the market. U.S. bitcoin funds shed $681 million last week, ending a three-week inflow run, even as the bitcoin price steadied near $83,000. Of the bitcoin, ether, solana and $XRP fund groups, only $XRP finished the week in the green.

Some of that conviction ties to news flow specific to $XRP. To elaborate, Ripple spent the weekend answering questions about a critical bug in the $XRP Ledger that could have broken its fixed supply. The flaw was patched in September before any known exploit, and the flow data shows no sign that it spooked fund buyers.

The bigger catalyst lands today as Evernorth, which holds about 473 million $XRP, is set to begin trading on Nasdaq under the ticker XRPN, bringing $XRP exposure to another listed stock. For ETF issuers, it is either a rival for the same investor dollars or proof that Wall Street demand for $XRP products is broadening.

That said, the ongoing streak only proves that weekly totals stayed positive. It does not indicate how deep the demand is. Bitwise carried last week almost by itself, and the overall gap between assets and lifetime inflows is widening.