Teucrium 2x Lengthy Day by day XRP ETF (XXRP) reached $323.6 million in internet flows this week, being the primary XRP exchange-traded fund (ETF) traded within the US to surpass the $300 million threshold.
In accordance with VettaFi’s information, XXRP now represents 52.5% of the entire $616 million in internet flows registered by US-traded XRP ETFs.
Notably, all exchange-traded merchandise (ETPs) tied to XRP within the US are pegged to derivatives, with the SEC but to greenlight spot merchandise as of July 29.
Two-digit progress
In accordance with CoinShares, XRP ETPs captured $189 million in inflows final week. XXRP’s $73.4 million in internet flows then represented 39% of the worldwide flows, and a 22.7% weekly progress in inflows.
On July 21, XXRP noticed probably the most vital every day quantity of any XRP ETF within the US to this point, capturing $50.4 million.
The Teucrium ETF is the oldest of the 4 XRP ETFs traded within the US, launched on April 8. On Could 22, Volatility Shares launched its XRP merchandise, the funds XRPI and XRPT. Whereas XRPI affords no leverage, XRPT affords publicity to 2x leverage.
XRPI registered $124.6 million in inflows as of July 28, in accordance with information from ETF.com. XRPT posted practically $168 million in internet flows in the identical interval.
Relating to final week’s efficiency, Volatility Shares’ funds registered comparable progress. XRPI complete inflows elevated by 27% by $33.6 million. On the identical time, XRPT added $43.6 million in inflows, rising 26%.
The youngest of the bunch is ProShares Extremely XRP ETF (UXRP), which turned stay on July 16. Since then, the 2x leverage ETF captured roughly $101,000 in inflows.
Outpaced by Solana merchandise
Regardless of surpassing Solana (SOL) in complete market cap to grow to be the third-largest crypto, XRP ETPs nonetheless register a smaller influx depend than SOL-related merchandise this 12 months.
XRP-based merchandise closed June with practically $410 million in year-to-date flows, towards SOL’s $292.5 million.
Nevertheless, XRP merchandise now quantity to $721 million within the international complete internet flows, shedding floor to Solana-tied ETPs and their $844 million in inflows.
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