New all-time high for the XRP ETFs in terms of total cumulative net inflows.
After a couple of consecutive weeks in which the spot XRP ETFs attracted nearly $19 million, the actual inflows were slashed in half during the previous, highly eventful five-day trading period.
Nevertheless, they have extended their green streak, which can also be said of the spot SOL ETFs. In fact, the Solana funds have been in the green for nearly three months now.
XRP ETFs Hit New ATH
On the day ahead of the crucial Senate vote for the CLARITY Act, the spot Ripple ETFs attracted $11.26 million, which helped them start the week with a bang. Interestingly, the failure of the bill vote on Tuesday didn’t result in any direct net outflows, with SoSoValue showing $0.00 in reportable data on that day, even though the underlying asset slumped by more than 8% in hours.
In fact, investors continued to pour funds into the financial vehicle on the next day, with $3.50 million entering the ETFs despite the Fed’s rate hike on Wednesday. That’s where the tide turned, and the net inflows stopped. SoSoValue shows $5.15 million in net withdrawals completed on Thursday, and a very modest $43,700 taken out on Friday.
As such, the cumulative total net inflows reached a new all-time high on Wednesday at $1.720 billion but dropped toward $1.710 billion a day later. Nevertheless, the week was still a success, with $9.56 million in net inflows. The last time the spot XRP ETFs were in the red was during the first full week of July.
SOL ETFs Are Doing Even Better
Similar to the XRP ETFs, the SOL counterparts began the week on a high note, attracting just over $11 million. They didn’t budge on Tuesday either, gaining another $1.35 million. The net inflows slowed down to under $840,000 on Wednesday and went to $0.00 on Thursday. As of press time, there’s no data on SoSoValue about what happened on Friday, so we will assume it was another non-action day of $0.00.
Given the currently available information, the week ended with $13.19 million in net inflows. Unless investors pulled out over that amount on Friday alone, which is highly unlikely since the last time this happened was on July 28, then the green streak of consecutive weeks with more net inflows grew to 12. In other words, the last time the SOL ETFs were in the red weekly was in late June.
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Meanwhile, the underlying asset rocketed to a multi-month peak of around $115 during the Friday/Saturday rally, before it was rejected to below $110 as of Sunday afternoon.
