XRP ETF Performance Praised as 'Really Impressive' by Bloomberg

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Mar 10

The recently minted XRP exchange-traded funds (ETFs) have been praised by none other than Bloomberg's Eric Balchunas despite their somewhat sluggish performance. According to the prominent pundit, the...

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My guess is this is largely XRP super fans vs casual retail.\"Current XRP ETF stats The funds experienced nine-figure daily capital injections right out of the gate. For instance, Nov. 24 saw a record-setting single-day net inflow of over $164 million. This momentum carried the funds through December. However, the funds began to experience violent capital outflows in January. Jan. 29 stands out as the most brutal single day of capital flight, with the ETFs bleeding nearly $93 million in net outflows.The funds have indeed seen a massive drop in Total Net Assets (TNA) due to the depreciation of XRP's spot price, according to the data provided by SoSoValue. In January, the combined TNA of these ETFs peaked at $1.65 billion. Today, that number has slipped just below the $1 billion mark to $971 million.  That said, cumulative inflow metrics prove that investors are largely holding their ground.Canary and Bitwise are currently both holding over $260 million in assets.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}