The Ripple in the ETF World

XRP-based exchange-traded funds (ETFs) are creating waves in the investment world. Intriguingly, the Teucrium 2x Long Daily XRP ETF (XXRP) recently hit a milestone.

A New Milestone for XRP ETFs

XXRP reached a staggering $323.6 million in net flows this week. This historic achievement makes it the first XRP ETF in the US to cross the $300 million mark. According to VettaFi’s data, XXRP now accounts for 52.5% of the total $616 million net flows by US-traded XRP ETFs.

Consistent Growth

Notably, all exchange-traded products (ETPs) tied to XRP in the US remain pegged to derivatives, pending the SEC’s approval of spot products. However, XXRP is showing remarkable growth. As reported by CoinShares, XRP ETPs attracted $189 million in inflows last week alone. Of this, XXRP contributed $73.4 million, representing 39% of global flows—a notable 22.7% weekly growth.

A Historic Day for XRP ETFs

On July 21, XXRP recorded its largest daily volume, pulling in $50.4 million. This is noteworthy as it marks a significant day for XRP ETFs in the US.

Competitive Landscape

While XXRP continues to thrive, let’s not overlook other players in the market. Volatility Shares unveiled its XRP funds—XRPI and XRPT—on May 22. XRPI offers no leverage, while XRPT provides exposure to 2x leverage. XRPI saw $124.6 million in inflows by July 28, while XRPT posted nearly $168 million.

Recent Performance

Last week, Volatility Shares’ funds demonstrated similar growth. XRPI increased inflows by 27%, adding $33.6 million. Likewise, XRPT grew by 26%, with $43.6 million in new inflows.

The Young Contender

The newest entrant in this arena is the ProShares Ultra XRP ETF (UXRP), which launched on July 16. This 2x leverage ETF has already captured around $101,000 in inflows.

XRP vs. Solana: The Bigger Picture

Despite its recent success, XRP ETPs are lagging behind Solana (SOL) in inflows for the year. Although XRP-based products ended June with almost $410 million in year-to-date flows, Solana’s products accumulated $292.5 million. On a global scale, XRP products have $721 million in net flows. Conversely, Solana-tied ETPs boast an impressive $844 million.

In summary, the rapidly evolving ETF landscape offers promising opportunities for investors. With XRP making strides, the future of crypto-based ETFs looks bright.