After a few straight weeks in which spot XRP ETFs attracted nearly $19 million, actual inflows were cut in half during the previous very eventful five-day trading period.
However, they have extended their green streak, which may also be the case for spot SOL ETFs. Indeed, Solana funds have been in the green for almost three months now.
XRP ETFs Hit New ATH
The day before the crucial Senate vote on the CLARITY Act, Ripple spot ETFs attracted $11.26 million, helping them start the week with a bang. Interestingly, the bill’s failed vote on Tuesday resulted in no direct net outflow, with SoSoValue showing $0.00 in reportable data that day, even though the underlying asset fell more than 8% in a matter of hours.
In fact, investors continued to pour funds into the financial vehicle the next day, with $3.50 million flowing into ETFs despite the Fed’s rate hike on Wednesday. This is where the tide turned and the net inflows stopped. SoSoValue shows $5.15 million in net withdrawals made on Thursday and a very modest $43,700 withdrawn on Friday.
Thus, cumulative total net inflows hit a new all-time high on Wednesday at $1.720 billion, but fell to $1.710 billion a day later. The week was nonetheless a success, with $9.56 million in net revenue. The last time spot XRP ETFs were in the red was during the first full week of July.
SOL ETFs do even better
Similar to the XRP ETFs, the SOL counterparts started the week on a high note, attracting just over $11 million. They didn’t move on Tuesday either, earning another $1.35 million. Net inflows slowed to below $840,000 on Wednesday and rose to $0.00 on Thursday. As of press time, there is no data on SoSoValue on what happened on Friday, so we’ll assume it was another day of no $0.00 action.
Based on currently available information, the week ended with $13.19 million in net inflows. Unless investors withdraw this amount on Friday alone, which is highly unlikely since the last time this happened on July 28, the green streak of consecutive weeks with more net inflows grew to 12. In other words, the last time the SOL ETFs were in the red every week was late June.
Meanwhile, the underlying asset climbed to a multi-month high of around $115 during Friday/Saturday’s rally, before being rejected below $110 on Sunday afternoon.
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