XRP has emerged as a frontrunner in the US cryptocurrency exchange-traded fund (ETF) market, showcasing a remarkable performance since its recent debut. In under 10 trading days, newly launched US spot XRP ETFs have achieved approximately $587 million in cumulative inflows, surpassing the $568 million collected by Solana ETFs. This development marks a significant shift in the altcoin landscape, positioning XRP as the lead for investors seeking alternatives to Bitcoin and Ethereum amidst a market characterized by outflows and conservative investment behavior.
Initially, Solana ETFs recorded strong inflows after their launch on October 28, with a notable streak of 20 consecutive days of net inflows, amassing around $568 million and boosting total assets to $840 million, which represents about 1% of Solana’s market capitalization. However, XRP’s ETF offerings condensed this growth trajectory dramatically. By November 21, the US spot XRP funds had accumulated $423 million, but the entry of established financial players like Grayscale and Franklin Templeton on November 24 catalyzed a significant capital influx, which added $164 million in net creations in just a single day.
This surge brought XRP’s total inflows to nearly $587 million, outpacing Solana’s achievements in almost half the time. Currently, XRP is attracting institutional investments at nearly double the daily rate compared to Solana.
A critical factors driving this rapid growth is the competitive pricing strategy enacted by Franklin Templeton, which has set an aggressive benchmark in the crypto ETF market. Their XRPZ fund boasts a 0.19% sponsor fee, entirely waived for the first $5 billion in assets through May 31, 2026, making it an appealing option for institutional investors where every basis point counts. Grayscale’s GXRP has followed suit by waiving its standard fees for the initial three months, coinciding with a peak in demand and facilitating a surge in capital as investors awaited the launch of these low-cost options.
On the other hand, Solana ETFs, while also implementing fee waivers, have not seen the same level of capital engagement, partly due to the substantial investment cap associated with Franklin’s fund.
A stark contrast is observed in how inflows are influencing price action between the two tokens. While Solana has attracted $510 million amidst a 30% price decline, thus acting as a buffer against selling pressure, XRP’s inflows are propelling its price upwards. Following the November 24 surge, XRP’s value rose approximately 10%, breaking through the $2 mark and reaching highs of $2.27. On-chain analytics reveal this price zone as crucial, typically witnessing selling from legacy holders aiming to recoup early losses. However, the current ETF demand is reshaping this dynamic, creating a robust support level as funds continue to absorb substantial daily inflows.
Market analysts are now revising their year-end projections for XRP, especially after it swiftly crossed the $500 million mark in under 15 trading days. Should daily inflows stabilize between $40 million and $60 million post-launch excitement, XRP aims to potentially reach a milestone of $1.5 billion by year-end. In a more optimistic scenario, if Franklin Templeton’s fee waivers successfully attract registered investment advisors and investment reallocation from less-performing assets persists, it’s feasible that XRP’s ETF complex could approach $2 billion in assets under management by the end of 2025.
