Solana & XRP ETFs Defy Bitcoin & Ether Outflows With Consistent Inflows

Article Highlights

• Solana and XRP ETFs buck the trend of Bitcoin and Ether ETF outflows.
• Consistent inflows since launch, contrasting the broader market trend.
• Nearly $500 million in net inflows accumulated for Solana ETFs, and $410 million for XRP ETFs.
• Bitwise XRP ETF launch sees a strong debut.
• Solana and XRP tokens underperforming despite strong ETF inflows.

While spot Bitcoin and Ether exchange-traded funds (ETFs) are facing some of the largest daily outflows since their launch, two new altcoin products are defying this trend. Despite the broader market downturn, Solana (SOL) and XRP (XRP) ETFs have not recorded a single outflow day since launch, according to crypto ETF data aggregator SoSoValue. This makes the two altcoin ETFs rare green spots in an otherwise red ETF landscape.

The inflows are becoming substantial. Data shows that Solana-based spot ETFs have accumulated nearly $500 million in net inflows, while XRP ETFs have seen $410 million in cumulative net inflows to date. This divergence occurs amid one of the most severe multi-week outflow streaks in spot Bitcoin (BTC) and Ether (ETH) ETF history. While flagship crypto products are experiencing large-scale redemptions, steady inflows into new ETFs suggest a small but notable indication of investor conviction in exploring exposure beyond the two largest assets.

XRP and Solana ETFs Log Consistent Inflows Amid Market Stress

On Thursday, Bitwise Asset Management launched its XRP ETF under the ticker “XRP.” The ETF made a strong debut, attracting $105 million on its first trading day, according to SoSoValue data. Asset manager Canary’s XRPC added another $12.8 million on Thursday, bringing total inflows to $118 million on the day. Canary CEO Steven McClurg congratulated Bitwise on the launch, stating they are “rooting” for them despite being competitors in the space.

Canary has also contributed to the consistency of XRP ETF inflows. It currently holds the record for the largest XRP ETF inflow day, attracting $243 million in inflows on Nov. 14 for XRPC. Solana-based ETFs displayed a similar pattern of resilience, recording consistent daily inflows even as the broader markets declined. SOL-based ETF products attracted between $8.26 million and $55.61 million per day this week, with Nov. 19 marking the strongest daily inflow.

Solana and XRP Tokens in the Red Despite ETF Gains

Despite the steady gains posted by SOL and XRP-based ETFs, the underlying assets behind the exchange-traded products have shown poor performance in the past month. Solana declined by 32.5% in the past month and 10.9% in the last week, according to CoinGecko data. At the time of writing, the token trades at $122.94, representing a 52.3% decrease in the last year. Meanwhile, XRP has performed similarly recently, declining by 21.2% over the last 30 days and 16.6% over the last week. However, its yearly chart paints a different picture. The asset currently trades at $1.86, representing a 49.9% increase over the past year, according to CoinGecko.