U.S. spot XRP ETFs now hold 1.18 billion XRP, a stockpile close in size to the 1 billion XRP that Ripple's escrow can release on October 1. Inflows keep arriving even as XRP's price lags the accumulation, trading near $1.48 and still below its September 23 high.
Seven Funds, 1.18 Billion XRP
Seven U.S. spot XRP ETFs now hold 1,179.62 million XRP, or 1.18% of the fixed 100 billion supply, with combined assets of about $1.82 billion. Bitwise leads the pack with 413.1 million XRP, followed by Franklin Templeton's XRPZ at 293.1 million and Canary Capital's XRPC at 249.8 million. Behind them sit 21Shares' TOXR at 107.4 million, Grayscale's GXRP at 59.8 million, Rex-Osprey's XRPR at 35.2 million and 21.2 million inside Bitwise's broader index fund, BITW.
XRP treasury firm Evernorth has also put the XRP community at the center of its Nasdaq listing plans, a sign that regulated wrappers and corporate balance sheets are competing for the same coins as the ETFs.
Inflows Keep Coming, But Unevenly
Sosovalue data show XRP ETFs took in $75.59 million from Sept. 21 to Sept. 25, almost all of it split between two issuers. Bitwise drew $58.99 million and Franklin Templeton $16.60 million, lifting their cumulative inflows to $677 million and $501 million.
Yet total net assets across the funds stand at $1.77 billion against $1.79 billion in cumulative net inflows, meaning the average dollar that entered these funds is sitting slightly underwater.
Thursday's Escrow Window
Ripple's onchain escrow holds 31.98 billion XRP, about 32% of supply, with another 4.74 billion sitting in operational wallets. The next monthly window opens Oct. 1 and can release up to 1 billion XRP — a single month's maximum release equal to roughly 85% of everything U.S. ETFs have accumulated since launch. Historically, unused amounts have been re-locked, so the release ceiling is rarely what actually reaches the market.
Exchange-held XRP tells a different story: publicly attributed wallets held 21.14 billion XRP after a net drop of 625.9 million XRP across tracked wallets during the week.
Price Hasn't Caught Up
XRP is trading near $1.48 on Binance, down about 2% on the day and below the $1.66 high it tagged on Sept. 23. Bitcoin's price slid to $82,705 the same day, even after U.S. spot bitcoin ETFs absorbed $2.39 billion in the same week, roughly 32 times XRP's haul.
The accumulation is happening against a broader institutional narrative. This week's Sibos 2026 banking conference in Miami, where Ripple Treasury is presenting, gave XRP advocates a hook to revive the SWIFT-replacement story, according to CoinGape. On the ground, JPMorgan, Ripple and Ondo completed the first cross-border tokenized treasury settlement on the XRP Ledger. Separately, XRP futures open interest topped $4.1 billion, outpacing Hyperliquid and Zcash. Still, steady ETF inflows alone have yet to push XRP's price through resistance.
Sources: Bitcoin News, CoinGape
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