$XRP Spot XRP ETF Records First Weekly Net Outflow, Pressure From Grayscale
For the first time since launch, the US Spot XRP ETF market has ended a trading week in the red, marking a notable shift in institutional investor sentiment.
🔸 During the trading week of January 19-23, Spot XRP ETFs recorded a total net outflow of $40.64 million. This is the first time this product group has recorded negative weekly flows since listing.
🔸 Selling pressure mainly stemmed from Grayscale XRP ETF (GXRP) with a net outflow of $55.39 million. Conversely, Bitwise XRP ETF maintained its appeal, recording a positive inflow of $8.69 million, bringing its cumulative historical inflow to $319 million.
🔸 As of now, the total net asset value of XRP ETFs stands at $1.36 billion, accounting for approximately 1.17% of XRP's total market capitalization. Despite the weekly outflow, the cumulative historical net inflow remains positive at $1.23 billion.
With Grayscale seeing heavy withdrawals leading to the first negative week, is this merely shortterm profit taking after growth, or the beginning of an institutional divestment trend from XRP?
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