XRP ETF Issuers Show $320.8M Net Inflows Amid $746.1M Paper Loss
SEC data through June 30 detail $320.8M net creations across five XRP products even as holdings sat 44.1% below accounting cost.
SEC filings record $629.9M in share creations and $309.1M in redemptions across five XRP ETF issuers during the first half, for net primary-market activity of +$320.8M.
The same filings show the funds' combined XRP holdings carried at $1.693B accounting cost but valued at $947.3M on June 30, a $746.1M or 44.1% gap.
Inflow concentration
Net activity split sharply by issuer. Bitwise, Canary Capital and Franklin Templeton together recorded +$484.5M. Grayscale and 21Shares together recorded -$163.7M.
Bloomberg ETF analyst James Seyffart described the pattern as surprisingly resilient demand.
Remaining unknowns
The June 30 snapshot leaves later primary-market flows unreported. Fund-level cost basis is also distinct from any individual shareholder's realized entry price.