U.S. spot crypto ETF capital flows showed divergence on September 8. SoSoValue Data indicates that XRP ETF recorded a net inflow of $1.55 million on that day, while Bitcoin, Ethereum, and Solana related products all turned to net outflows, with XRP becoming one of the few mainstream crypto assets that managed to attract funds against the trend.
On September 8th, there was a divergence in capital flows.
Looking at the daily data, Bitcoin ETF had a net outflow of approximately $46.65 million, Ethereum ETF had a net outflow of about $24.29 million, and Solana had a net outflow of around $668,000. In comparison, the inflow scale of XRP ETF is not large, but against the backdrop of general pressure on other major spot cryptocurrencies ETF, this result attracts more attention.
This means that the focus of the market is not just on the absolute amount, but also on the divergence in the direction of capital flows. At least from a single-day perspective, the XRP product is still attracting new funds, while the larger mainstream products are facing redemptions.
There has been a net inflow for several consecutive days prior to this.
If we extend the time frame, this change is not an isolated phenomenon. Reports mention that the US spot XRP ETF had recorded net inflows for 11 consecutive trading days before, accumulating a total of about $170 million, and around September 1st, the cumulative net inflow was pushed up to approximately $1.68 billion.
In late August, XRP ETF also achieved its strongest single-week performance since 2026, with a net inflow of $110.49 million that week, and the cumulative fund size rose to approximately $1.66 billion. The article argues that this indicates that the capital support for XRP ETF is not just a temporary fluctuation but has continued for several weeks.
Institutional positions and prices are both strengthening simultaneously.
Institutional participation is also on the rise. According to documents disclosed in the second quarter, Goldman Sachs, Jane Street, and Millennium Management are all listed in the disclosed list of holders of XRP ETF. Among them, Goldman Sachs' related holdings are estimated to be around 87.4 million US dollars.
At the same time, the spot price of XRP has also rebounded. Data from Coinbase shows that on September 9th, the price of XRP was around $1.43, with a 24-hour increase of about 2.7% and a 7-day increase of about 7.4%, and the daily trading volume was approximately $2.87 billion.
However, the report also points out that this does not mean that institutional funds are shifting on a large scale from Bitcoin or Ethereum to XRP. The overall volume of Bitcoin ETF is still significantly larger, and the daily capital flows can also be quite volatile. What is more noteworthy at present is that, even on trading days when the overall demand for crypto funds is weakening, XRP ETF continues to maintain net inflows. This relative resilience is becoming increasingly difficult to consider an occasional phenomenon.
