US spot XRP ETFs hold $1.7 billion as weekly net inflows slow to $3.9 million
In brief
- Five US spot XRP ETFs held about $1.7 billion, or 1.13 billion XRP, on Oct. 6, per Maketo.
- Weekly net inflows totaled roughly $3.9 million, versus $112 million over the past month.
- Bitwise took in about $11 million on Oct. 6; Franklin and Canary posted outflows.
- XRP Insights tied most of a 1.63 billion XRP monthly exchange decline to an Uphold migration.
- CoinGlass logged $3.97 billion in 24-hour XRP futures turnover, roughly five times spot.
Bitwise carries the day while Franklin and Canary bleed
Maketo's flow data showed $3.14 million of aggregate net inflows into the five funds on Oct. 6. That total hides a split. Rounded daily figures put about $11 million into Bitwise's XRP fund, while Franklin's fund recorded outflows of roughly $4.1 million and Canary's lost about $3.3 million. Grayscale and 21Shares were flat.
Bitwise's inflows were bigger than the withdrawals elsewhere, so the sector still finished positive.
Canary's own shares-outstanding table shows its share count falling from 23.35 million on Oct. 5 to 23.14 million on Oct. 6, which is consistent with net redemptions. (Selling ETF shares on an exchange isn't the same as redeeming them from the fund; authorized participants handle creation and redemption units.) The holdings figure comes with a caveat too: Maketo values coins at its own daily closing price and estimates some holdings when issuers don't publish a coin count.
Exchange balances and an Uphold migration
XRP Insights counted 21.98 billion XRP in 699 publicly attributed wallets across 24 exchanges at 08:00 UTC on Oct. 7. That count includes cold storage and some reserves backing wrapped tokens, so it's broader than readily tradable inventory. Over seven days the same wallets declined by 26.5 million XRP (0.13%). Binance-attributed balances fell by 33 million XRP and Upbit's rose by 11.5 million.
The monthly number is much larger: a 1.63 billion XRP decline. XRP Insights attributed most of it to Uphold moving its storage into newer wallets outside the tracked set, and excluding Uphold the drop was 75 million XRP, or 0.54%. A recorded withdrawal can simply be an exchange moving its own storage rather than customers taking coins away.
The tracker also showed Ripple's Oct. 1 escrow cycle releasing 1 billion XRP and re-escrowing 700 million. The remaining 300 million left escrow, though that doesn't show the coins were sold.
Futures turnover dwarfs spot
At 14:29 UTC on Oct. 7, CoinGlass recorded $3.97 billion of 24-hour XRP futures turnover against $801.56 million of covered spot turnover, roughly five times the spot figure. Open interest stood at $3.35 billion. CoinGlass priced XRP at $1.4308, down 5.46% over the same rolling day.
Gross turnover measures trading activity, not net bearish exposure. It's unclear whether futures sellers led the price move or followed it.
Frequently asked questions
Why did XRP exchange balances drop 1.63 billion XRP over the past month?
XRP Insights attributed most of the 1.63 billion XRP monthly decline to Uphold moving its storage into newer wallets outside the tracked set. Excluding Uphold, the decline was 75 million XRP, or 0.54%. A recorded withdrawal can reflect an exchange moving its own storage rather than customers taking coins away.
Did the 300 million XRP that left Ripple's escrow on Oct. 1 get sold?
XRP Insights' tracker showed Ripple's Oct. 1 escrow cycle released 1 billion XRP and re-escrowed 700 million. The remaining 300 million XRP left escrow, but that change in availability does not show the coins were sold.
Does XRP futures turnover show traders were betting against XRP?
Not on its own. CoinGlass recorded $3.97 billion of 24-hour XRP futures turnover, roughly five times covered spot volume, but gross turnover measures trading activity rather than net bearish exposure. It's unclear whether futures sellers led or followed the price move.
