XRP funds are getting the bid that bitcoin and ether ETFs are lacking.
U.S.-listed spot XRP ETFs posted $11.88 million in web inflows on Could 29, extending per week of constructive flows even because the bigger bitcoin and ether ETF markets continued to lose capital, SoSoValue knowledge present.
Spot bitcoin ETFs recorded $125.31 million in web outflows on Could 29, marking a tenth straight day of redemptions. Ether funds misplaced one other $17.91 million, following $121.35 million of outflows the day earlier than.
XRP funds moved the opposite approach.
Bitwise’s XRP ETF led the group with $7.36 million of inflows on Could 29, adopted by Canary’s XRPC at $2.38 million and Franklin’s XRPZ at $2.14 million. Whole web property throughout the U.S. XRP ETF class stood close to $1.12 billion, equal to about 1.37% of XRP’s market worth, whereas cumulative web inflows reached $1.42 billion.
The dimensions remains to be small subsequent to bitcoin ETFs, which maintain greater than $94 billion in web property. Bitcoin and ether merchandise are displaying cooling institutional urge for food after months of risky worth motion, however XRP merchandise are nonetheless including cash.
From Could 20 to Could 29, U.S. spot XRP ETFs took in about $35 million, whereas bitcoin ETFs misplaced roughly $1.70 billion and ether ETFs shed $309 million, in accordance with SoSoValue knowledge.
That divergence comes as XRP stays one of many few massive tokens with a particular coverage and product narrative. Merchants are watching U.S. market-structure laws, XRP ETF adoption and whether or not institutional demand for the token can continue to grow at the same time as bitcoin and ether funds see redemptions.
The circulation story additionally lands in opposition to an older XRP treasury thread that continues to be unresolved.
In October 2025, Bloomberg reported that Ripple Labs was main an effort to lift a minimum of $1 billion by means of a SPAC to build up XRP inside a brand new digital asset treasury automobile. Ripple was additionally anticipated to contribute a few of its personal XRP, the report mentioned on the time.
CoinDesk has reached out to Ripple for affirmation and an replace on whether or not the plan superior, modified or was shelved.
If accomplished, the deal can be among the many largest recognized XRP treasury automobile thus far. Digital asset treasury corporations grew to become one in every of crypto’s greatest stock-market trades in 2025, as listed corporations used SPACs, reverse mergers and fairness issuance to purchase tokens. The mannequin labored whereas crypto costs rose and buyers paid premiums for balance-sheet publicity.
Nonetheless, the context issues as a result of XRP is now displaying two doable demand channels. ETF patrons including publicity in public markets and, if nonetheless lively, a possible treasury-company construction constructed round accumulating the token.
UPDATE (Could 30, 12:08 UTC): (An earlier model of this story centered on a October 2025 Bloomberg report that mentioned Ripple was main a deliberate $1 billion XRP treasury increase. CoinDesk has reached out to Ripple for affirmation on whether or not the plan stays lively.)