XRP Spot ETFs: A Comprehensive Insight
The evolving financial landscape continues to welcome cryptocurrency-based assets, and XRP Spot ETFs are no exception. On December 31, the US XRP Spot ETF market experienced a noteworthy daily net inflow of $5.58 million, reinforcing the growing attention towards XRP-linked investment products.
Daily Performance Breakdown
XRPZ (Franklin): Recording the highest inflow of $3.95 million (equivalent to 2.17 million XRP), XRPZ managed to lead the pack, even amidst a 2.07% price dip. The ETF holds $215.2 million in assets, closing at a price point of $19.91, with trading activity amounting to $9.37 million.
XRP (Bitwise): Adding a respectable $1.63 million in inflows, this ETF closed at $20.52, down by 2.05%. It recorded $4.44 million in trades and boasts a management fee of 0.34%.
XRPC (Canary, NASDAQ): Despite no net inflows or outflows, XRPC holds the largest net asset value of $319.16 million among its peers. However, it recorded a 2.26% price dip, closing at $19.45, with $7.13 million traded.
TOXR (21Shares, CBOE): Carrying net assets of $246.37 million, TOXR recorded no inflows but witnessed $6.4 million worth of trades, ending the day at $17.87, a 2.10% price decrease.
GXRP (Grayscale, NYSE): Similar to XRPC, GXRP saw no inflows or outflows. The ETF holds $223.4 million in assets, closed at $35.50 (down 2.26%), with trades totaling $1.36 million.
Total Market Performance
The US XRP Spot ETF market closed 2023 on a positive note with a combined cumulative net inflow of $1.17 billion, reflecting sustained investor interest. On December 31, the total market value traded was $22.36 million, and net assets across all listed ETFs reached $1.24 billion—representing 1.12% of XRP’s total market cap.
Why Invest in XRP Spot ETFs?
XRP Spot ETFs offer a unique proposition for investors by providing exposure to cryptocurrency’s potential while leveraging the stability and liquidity of traditional financial systems. Amidst market volatility, diversified investment options like XRPZ and XRPC provide attractive opportunities for crypto enthusiasts willing to explore manageable risks.
Invest Like a Pro
If you’re considering entering the world of crypto-related assets, ensure you have clear objectives and use reliable tools. For instance, the Ledger Nano X, a premium portable crypto hardware wallet, ensures the utmost security for managing XRP and other cryptocurrencies. Explore more here.
Whether you’re a seasoned investor or new to the market, the continual growth and inflows to XRP Spot ETFs show the promising trajectory of crypto assets in traditional finance.
