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XRP spot ETFs see $320.8M net inflows despite large paper losses

Five US spot XRP products reported fair value at $746.1M below accounting cost at June 30, while primary-market creations of about $629.9M outpaced redemptions of $309.1M in the first half.

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CryptoSlate reports that five major US spot XRP products held XRP worth a combined $746.1 million less than their accounting cost as of June 30, but investor activity in the primary market remained net positive. According to SEC filings cited by CryptoSlate, Bitwise, Canary Capital, Franklin Templeton, 21Shares, and Grayscale recorded roughly $629.9 million in creations against $309.1 million in redemptions during the first half of the year, for a net capital activity gain of about $320.8 million. CryptoSlate notes that the funds also collectively showed a sizable “paper loss” relative to accounting cost, with combined fair value of $947.3 million versus nearly $1.7 billion paid. The article says the creations continued faster than shares were redeemed, helping keep aggregate net flows positive despite the valuation gap inside the products. By fund, CryptoSlate reports that Bitwise, Canary, and Franklin posted $537.9 million in creations versus $53.3 million in redemptions, resulting in a net inflow of about $484.5 million. It also reports that Grayscale and 21Shares combined for $92.1 million of creations against $255.8 million of redemptions, including $180.8 million redeemed from Grayscale versus $66.6 million created, and $75.0 million of redemptions at 21Shares versus $25.5 million created.

Latest closeXRP $1.366 ▼1.0%

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