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XRP ETFs Pull in $121M This Month but Their Assets Keep Shrinking

ETFS

U.S. spot XRP exchange-traded funds (ETFs) have taken in $121.4 million in September on a five-session inflow streak, even as their net assets slide with XRP stuck under $1.50

Key TakeawaysSpot XRP ETFs logged $121.4M of September inflows, but net assets fell to $1.69B by Sept. 29.XRP trades near $1.49, down from a $1.66 high on Sept. 23, eroding the value of ETF holdings.Ripple’s escrow window opens Oct. 1 with up to 1 billion XRP eligible for release. The $121.4 Million Figure Broken Down The funds sat flat on Monday, Sept. 21, then took in roughly $20 million, $18 million, $14.9 million and $22.6 million over the next four sessions, a $75.6 million week. Monday, Sept. 28, added another $3.96 million, all of it into Canary’s XRPC, extending the streak to five straight days

Cumulative net inflows since the products launched in late 2025 now stand at $1.79 billion, with Bitwise leading the pack with about $677 million in inflows, followed by Franklin Templeton’s XRPZ at roughly $501 million. Together, the seven U.S. funds hold about 1.18 billion XRP, or 1.18% of total supply

Measured in coins rather than dollars, the ranking holds

Total net assets across the funds stood at $1.69 billion after the Sept. 28 session. Three days earlier, on Sept. 25, that figure was $1.77 billion

That is a drop of about $86 million over a stretch in which the funds took in fresh money. The gap is price, not redemptions. XRP hit $1.66 on Sept. 23 and now trades near $1.49, which shaves value off every coin already sitting in the vaults. It also means net assets have now slipped below the $1.79 billion that investors have put in, so the average ETF dollar is underwater

Not yet, as XRP ETFs pulled in more than $150 million in August, their best month of 2026, ahead of May’s $131.94 million. With the last sessions of the month still to be tallied, September needs roughly another $29 million to catch August, which would take a stronger day than anything the funds have posted this week

For comparison, spot bitcoin ETFs drew $66.19 million on Sept. 29 alone, led by Blackrock’s IBIT at $51.09 million, while the bitcoin price has held above $83,000. XRP’s trickle is steady, but it is still a trickle next to that

In other words, buyers are still showing up for XRP ETFs, just not fast enough to outrun the price. If XRP reclaims $1.60 in October, the asset line catches up to the inflow line quickly. If it keeps sliding, September’s $121.4 million will read more like a cushion than a rally

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