XRP ETF Sees First Net Outflow in 36 Days—What’s Next for the Crypto Giant?

After a 36-day streak of inflows, the XRP exchange-traded fund just hit a wall. Investors pulled more money out than they put in for the first time since early December—a shift that's got the crypto community buzzing.

The Streak Is Over

For over a month, the XRP ETF was a magnet for capital. Day after day, fresh money flowed in, building a narrative of unwavering institutional confidence. That story hit pause yesterday. The net outflow isn't just a blip; it's a signal that even the steadiest ships can feel the tide turn.

Reading Between the Lines

Is this profit-taking after a solid run? Or are some big players getting cold feet? In crypto, a single day's data can be noise, but coming off a 36-day inflow streak, it screams for attention. It's the classic finance dance—buy the rumor of stability, sell the news of a minor setback. Some desk jockey probably just hit their quarterly bonus target and cashed out.

The Ripple Effect

All eyes are now on whether this is a one-off or the start of a trend. ETF flows are a direct window into institutional sentiment. A single outflow breaks the momentum, questions the narrative, and puts every other crypto ETF on notice. If the smart money is pausing on XRP, what does that say about the broader appetite for digital asset funds?

The inflow streak had to end sometime. Now we see if yesterday was a breather or a reversal.

Spot XRP ETF’s First Net Outflow

According to SoSoValue data, five spot XRP ETFs listed in the U.S. reported total net outflows of $40.8 million on Wednesday. The most notable MOVE occurred in the 21Shares-managed TOXR fund, with $47.25 million withdrawn, whereas Canary, Bitwise, and Grayscale had marginal net inflows around $2 million.

Since November, when Canary’s XRPC product initiated its operations, XRP ETFs accumulated a total of $1.25 billion in net inflows until Wednesday. The day of the first net outflow represents a small fraction of this accumulation. Market analysts point to profit-taking following XRP’s recent price spike from $1.8 to $2.4.

BTC Markets crypto analyst Rachael Lucas observed that the outflows constituted less than 3% of total cumulative inflows, indicating maintained demand, especially given low exchange reserves and high transaction volumes. Lucas suggests a renewed pace of inflows could lead to testing the $3 level.

Simultaneous Movements in Bitcoin and Ethereum ETFs

XRP developments coincided with significant outflows in Bitcoin and Ethereum ETFs. Spot Bitcoin ETFs reported a net outflow of $486 million, with major withdrawals of $247.6 million from Fidelity’s FBTC fund and $130 million from BlackRock’s IBIT product, marking over $700 million exiting in two days.

Ethereum ETFs also saw a $98.5 million net outflow on Wednesday, with Grayscale’s ETHE fund accounting for $52 million in departures. This marked the first net outflow day of 2026 for Ethereum ETFs following $457 million in inflows over the year’s initial three trading days.

Lucas attributed the phenomena to post-valuation portfolio rebalancing and deleveraging after bitcoin reached $94,000. Presto Research’s Min Jung noted investors’ temporary preference for equities, whereas cautious stances in crypto reflected in prices and ETF flows.