Following a series of weeks where spot XRP ETFs garnered close to $19 million, the actual inflows experienced a significant reduction, halving during the preceding five-day trading period marked by notable events. Nevertheless, they have extended their green streak, which can also be said of the spot SOL ETFs. Indeed, the Solana funds have demonstrated positive performance for almost three consecutive months. On the eve of the pivotal Senate vote regarding the CLARITY Act, the spot Ripple ETFs garnered $11.26 million, positioning them favourably as the week commenced. Interestingly, the failure of the bill vote on Tuesday did not lead to any direct net outflows, as SoSoValue reported $0.00 in data for that day, despite the underlying asset experiencing a decline of more than 8% within hours.
In fact, investors persisted in allocating capital to the financial vehicle the following day, with $3.50 million flowing into the ETFs despite the Federal Reserve’s rate increase on Wednesday. That marks the point at which the tide shifted, and net inflows ceased. SoSoValue reports net withdrawals of $5.15 million completed on Thursday, followed by a modest $43,700 withdrawn on Friday. Consequently, the cumulative total net inflows achieved a record peak on Wednesday at $1.720 billion, only to decline to approximately $1.710 billion the following day. Nevertheless, the week was still a success, with 9.56 million in net inflows. The previous occasion when the spot XRP ETFs experienced a decline was in the initial complete week of July.
Similar to the XRP ETFs, the SOL counterparts commenced the week positively, garnering just over $11 million. They remained steadfast on Tuesday as well, accumulating an additional $1.35 million. The net inflows experienced a deceleration, registering below $840,000 on Wednesday, ultimately declining to $0.00 by Thursday. As of the latest update, there is no available data regarding the events of Friday, leading us to conclude that it was yet another day of inactivity, reflecting a value of $0.00. Given the currently available information, the week concluded with net inflows amounting to $13.19 million.
Unless investors withdrew more than that amount on Friday alone, which is improbable given that the last occurrence was on July 28, the series of consecutive weeks with net inflows increased to 12. In other words, the most recent instance of the SOL ETFs experiencing a weekly decline occurred in late June. Meanwhile, the underlying asset surged to a multi-month high of approximately $115 during the Friday/Saturday rally, before experiencing a decline to below $110 by Sunday afternoon.
