$XRP ETF Inflows Continue to Dominate Despite Bearish Market

Despite a bearish market sentiment that has weighed on many cryptocurrencies, XRP exchange-traded funds (ETFs) continue to attract fresh capital at a steady pace. According to recent data, $XRP ETFs have outpaced both Bitcoin and Ethereum in terms of net inflows for five consecutive weeks.

In the week ending June 12, XRP ETFs captured a weekly total net inflow of $10.68 million, bringing the cumulative total net inflow to an impressive $1.44 billion. This steady performance follows previous weeks where XRP has also seen significant net inflows, including $15.20 million during the week of May 29 and $60.50 million in the week of May 15.

Bitcoin, on the other hand, suffered a devastating weekly net outflow of $319 million, with prominent funds such as BlackRock's iShares Bitcoin Trust (IBIT) taking a particularly tough hit. Ethereum ETFs also recorded negative net flows of $15 million for the week, while Solana ETFs slipped by $4 million.

The United States Securities and Exchange Commission (SEC) has just approved a critical rule change allowing T. Rowe Price's new Active Crypto ETF to be listed and traded on the NYSE Arca, with XRP being added as an eligible asset for the actively managed portfolio, alongside Bitcoin and Ethereum.