Spot XRP ETFs logged a $3.28 million net outflow on Oct. 2, entirely from Bitwise, while combined fund assets dropped about $37 million. Lifetime inflows into the funds now exceed their net assets by roughly $133 million, and the gap has been widening as XRP's price slides alongside bitcoin.
U.S. spot XRP ETFs ended Oct. 2 with total net assets of $1.658 billion, according to Sosovalue data. That figure was $1.695 billion the previous session. Only $3.28 million of that $37 million drop came from actual redemptions, with the rest reflecting XRP's price move.
Bitwise Alone Drives the Outflow
The Bitwise XRP ETF accounted for the entire $3.28 million outflow while the rest of the field netted zero that day. Bitwise still leads the category with about $677 million in cumulative inflows, ahead of Franklin Templeton's XRPZ at $505 million and Canary's XRPC at $490 million.
A similar pattern played out on Sept. 2, when a $7.20 million XRP ETF outflow also came entirely from the Bitwise product. As the largest and most liquid fund in the group, it tends to be where tactical money moves first. Even so, the funds had pulled in about $75.6 million across Sept. 22 to Sept. 25 and closed September with $121.4 million of inflows, and October opened with a $4.07 million inflow into Franklin on its first day.
The Underwater Gap Widens
Lifetime net inflows into spot XRP ETFs stand at $1.791 billion, about $133 million above the funds' current $1.658 billion in net assets. That gap had sat at roughly $100 million a week earlier, and net assets were still at $1.69 billion as recently as Sept. 30. Two days later, Solana funds overtook XRP products with $1.91 billion in assets.
XRP and Bitcoin Fall Together
XRP traded as high as $1.55 on Oct. 2 before dropping to $1.44 during the late U.S. session and now changes hands between $1.47 and $1.49.
The slide lined up with a reversal in bitcoin, which tapped $87,000 before falling to $83,900 after a weak U.S. jobs report showed just 29,000 new payrolls.
Source: Bitcoin News
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