Following a short period during which the spot XRP ETFs experienced outflows surpassing inflows, the trend has reversed, with the funds now indicating positive performance once more. Unfortunately for the SOL fans, the landscape surrounding the altcoin appears quite different, as the Solana ETFs have now marked their third consecutive week in negative territory. Source reported over the previous weekend that the exchange-traded funds tracking the performance of Ripple’s cross-border token recorded $1.84 million in net outflows during that week. This marked the inaugural week of decline in three months.
The commencement of the following business week exhibited a lacklustre performance, as the funds did not manage to garner any significant activity on Monday and Tuesday. On Wednesday, investors made a modest return, resulting in a net inflow of slightly less than $710,000. This coincided with the underlying asset’s price surge to nearly $1.40. Despite the interruption of XRP’s breakout attempt on Thursday, inflows persisted. SoSoValue data indicates that investors allocated $3.55 million into the ETFs, marking the most significant single-day performance since October 8. However, demand vanished once more on Friday, with $0.00 in reportable flows. The cumulative total net inflows have sustained an unprecedented peak of $1.8 billion as the funds near their inaugural anniversary month.
The ETFs tracking SOL experienced significant momentum over a three-month period, commencing with the week that concluded on July 2 and extending to the week that ended on October 2. After 14 consecutive weeks of positive performance, however, the outflows commenced. During the first full week of October, they experienced a loss of $24.81 million. Another $25.52 million followed a week later, marking the highest net withdrawal on record. The past business week extended this negative streak, with 6.72 million in net outflows on Monday. $2.65 million exited the funds on Tuesday, whereas $585,300 flowed in on Wednesday – marking the first positive day since October 2.
However, the landscape reversed on Thursday, with 8.51 million in net outflows. Regrettably, the information supplied by SoSoValue and Farside does not encompass October 23. Consequently, our conclusion is derived from the data available through Thursday, indicating that the weekly outflows amounted to $17.30 million. The cumulative total net inflows have decreased from $1.61 billion on October 2 to $1.54 billion on October 22. Meanwhile, SOL’s price was halted at over $110, and the asset now struggles to maintain its position above $100.
