Why are Bitcoin ETFs falling while only XRP Spot ETFs are rising?

▲ XRP (XRP, ETF/ChatGPT generated image) ©

While Bitcoin and Ethereum ETFs experienced large-scale capital outflows, the XRP (Ripple) spot ETF alone recorded capital inflows, revealing a selective movement of institutional funds.

According to the investment media TradingNews on April 30 (local time), the US XRP spot ETF recorded a net inflow of $3.59 million on April 29. This contrasts with the overall weakness in the major cryptocurrency ETF market on the same day, with Bitcoin (BTC) spot ETFs seeing an outflow of $137.77 million and Ethereum (ETH) spot ETFs seeing an outflow of $87.73 million.

The representative product, XRP ETF (XRPI), closed at $7.68, up 1.32%, and moved within a range of $7.64 to $7.70 during the day. The Rex-Osprey XRP ETF (XRPR) rose 1.63% to $11.23, with its 52-week trading range reported as $9.50 to $25.99. The total cumulative net inflow for XRP spot ETFs reached $1.3 billion, and the total net assets were $1.04 billion, accounting for 1.23% of XRP's market capitalization.

The products leading the capital inflow were Bitwise XRP ETF, which saw a new inflow of $2.12 million, and Franklin XRPZ, which attracted $1.47 million. Canary Capital XRPC, 21Shares TOXR, and Grayscale GXRP did not have net inflows on the day, but no redemption pressure was observed either. The media interpreted this not as simple chase buying but as institutional low-cost buying utilizing price weakness.

Another signal indicating institutional demand is Goldman Sachs' 13F filing. Goldman Sachs was found to hold $153 million in XRP-linked ETFs as of Q4 2025. This, along with $1.1 billion in Bitcoin ETFs and $1 billion in Ethereum ETFs, positions XRP within institutional cryptocurrency investment portfolios, leading to the interpretation that Wall Street has begun to view XRP not as a mere altcoin but as a differentiated investment asset.

Based on spot price, XRP traded within the range of $1.36951 to $1.40, with a market capitalization of approximately $84.5 billion and a 24-hour trading volume of $2.41 billion. Technically, the $1.30 support level remains a key defense line, and a breakout above $1.45 and $1.50 suggests a potential rise of approximately 53% to $2.00, based on a symmetrical triangle pattern. Conversely, if $1.30 breaks, a fall below $1.27 is identified as the next risk signal.

The media attributed the bullish trend of XRP spot ETFs to the establishment of approximately $2 billion in XRP-centric corporate treasuries by 8 listed companies, the expansion of Ripple's payment infrastructure, and increased ecosystem exposure due to the XRP Las Vegas 2026 (XRPLV26) event in Las Vegas. In conclusion, XRPI and XRPR are the most distinct products that have selectively attracted institutional funds even amidst the bearish market for Bitcoin and Ethereum ETFs. If XRP moves towards the $2.00 target, the $11-$12 and $15-$17 ranges are presented as key targets for XRPI and XRPR, respectively.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*