XRP ETF Investors Are Now $133M Under Water on Their Bets
Key Takeaways
Bitwise’s XRP fund was the only mover on Oct. 2, shedding $3.28 million while rivals sat flat.XRP ETF net assets slid to $1.66 billion, about $133 million below $1.791 billion in lifetime inflows.XRP fell as low as $1.44 before recovering while BTC dropped from $87,220 to around $84,500.
The Breakdown
According to Sosovalue data, U.S. spot XRP ETFs ended Oct. 2 with total net assets of $1.658 billion. One session earlier, on Oct. 1, that figure was $1.695 billion, so roughly $37 million disappeared from the scoreboard while only $3.28 million actually walked out.
The rest came from the token itself, as XRP traded as high as $1.55 on Oct. 2 before dropping to $1.44 during the late U.S. session. The token is now trading between $1.47 and $1.49.
In terms of who sold, only the Bitwise XRP ETF (trading under the ticker XRP) accounted for the full $3.28 million outflow, and the rest of the field netted zero that day. Bitwise is still the category’s biggest magnet by cumulative inflows at about $677 million, ahead of Franklin Templeton’s XRPZ at $505 million and Canary’s XRPC at $490 million.
On Sept. 2 flows, Bitcoin.com News reported that 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 goes in and out first.
That said, the one red day has followed a strong stretch, with the funds pulling in about $75.6 million across Sept. 22 to Sept. 25 and closing September with $121.4 million of inflows. October opened with a $4.07 million inflow into Franklin on day one.
The Waterline Problem
Lifetime net inflows into spot XRP ETFs stand at $1.791 billion, yet the funds hold $1.658 billion, about $133 million less than buyers have put in. In other words, the money that went into these products since their launch in late 2025 is now underwater.
Moreover, the gap has been widening (from roughly $100 million a week ago) and Bitcoin.com News flagged on Sept. 30 that XRP fund assets kept shrinking even as inflows piled up, a time when net assets sat at $1.69 billion. Two days later, Solana funds overtook XRP products with $1.91 billion in assets, a ranking that inflows alone cannot win back if XRP’s price keeps drifting.
Sentiment has not helped either, given social data cited by Bitcoin.com News showed XRP’s bullish-to-bearish ratio falling to 0.67 on the same day the outflow printed.
The Broader Picture
XRP did not fall alone with Friday’s slide, which lined up with a reversal in bitcoin’s price, which tapped $87,000 yesterday after a weak U.S. jobs report showed just 29,000 new payrolls. It then fell to $83,900 during the late session before recovering a little more. XRP’s low came in during the same four-hour window.
