The Bitwise $XRP fund has now crossed the $500 million cumulative net inflow mark, becoming the first $XRP ETF to reach this milestone.
$XRP ETFs have continued to impress with their sustained inflows despite the months-long price struggles, and one particular fund appears to be driving most of the capital gains over the past few weeks.
Specifically, the Bitwise $XRP ETF ($XRP) has persistently recorded net capital inflows this year, often contributing to the broader $XRP ETF market’s impressive performance. As a result, the fund has now become the first $XRP spot ETF to cross the $500 million marker.
How the Bitwise $XRP ETF Has Fared
The Bitwise ETF started the year with zero flows on Jan. 2, its first trading day of 2026. However, as the month progressed, the fund pulled in $16.61 million on Jan. 5, contributing a 36% share to the $46.1 million total inflow recorded by $XRP ETFs that day.
When the $XRP ETF market saw its first daily outflow ever on Jan. 7, recording a capital exit of $40.8 million, the Bitwise product bucked the trend, seeing a modest $2.44 million worth of inflows that day. If anything, it helped reduce the outflows for that day.
Interestingly, the Bitwise $XRP ETF scaled through January and February 2026 without any intraday outflow.
During this period, the product saw $72.89 million worth of inflows in January, outpacing the overall market’s record of $15.59 million. In February, the fund saw $32.26 million, marking a 55% contribution to the ETF market’s $58.09 million figure.
The Bitwise ETF saw its first intraday outflow on March 6. Since its launch in late November 2025, the product has only recorded 7 days of intraday outflows. In contrast, the overall $XRP ETF market has witnessed 19 days of intraday outflows since November 2025.
Journey to the $500M Milestone
Also, since it started trading publicly, the Bitwise $XRP ETF has not seen a single month of outflows. After taking in $72.89 million in January and $32.26 million in February, the product saw inflows worth $7.02 million, $44.74 million, $49.48 million, and $27.98 million in March, April, May, and June, respectively.
So far, in July, it has recorded $1.80 million, leading to a cumulative net inflow of $501.15 million at press time. The product first hit the $500 million milestone on June 29, when cumulative net inflow reached $505 million. It dropped below the mark at the start of July, but has since recovered above it.
Meanwhile, the Canary Capital $XRP ETF (XRPC), which debuted first in the market and had a good early run, currently boasts a cumulative net inflow of $466.97 million, still below the $500 million mark. The Franklin Templeton ETF (XRPZ) comes third with $413.23 million in net inflows, while Grayscale’s GXRP now sees $131.46 million.
Overall, total cumulative net inflows across all funds sit at $1.49 billion, now approaching the $1.5 billion milestone. Of this figure, the Bitwise product accounts for a 33% share, the largest for any single product.
