XRP Spot ETF Sees Continued Outflows as Funds Flow to Bitcoin and Chainlink

Recently, the XRP spot ETF has experienced continuous capital outflows, with a single-day net outflow of $9.84 million on March 9, marking the largest single-day redemption since the product's launch. Over the past five trading days, net outflows have been observed on four days, with a cumulative net outflow of $4.09 million for the week ending March 6, the first weekly net outflow since late February. Despite the apparent short-term pressure, the XRP spot ETF has still achieved a total net inflow of $1.22 billion since its listing in November 2025, with current assets under management (AUM) maintained at $971 million.

Among the various issuers, Canary's XRPC product leads with $268 million in net assets, followed closely by Bitwise with $264 million, and then Franklin Templeton, 21Shares, and Grayscale.

In contrast, the Bitcoin spot ETF performed strongly during the same period, attracting $167 million in a single day on March 9, ending the previous outflow trend. Cumulative net inflows have exceeded $55.54 billion, with AUM reaching $88.34 billion, accounting for 6.41% of the total BTC market capitalization. Market funds are clearly concentrating on mainstream assets with stronger liquidity. Notably, the Chainlink spot ETF has maintained daily net inflows since its launch in December 2025, with another $2 million added on March 9, bringing cumulative inflows to $92.66 million and AUM to $85.08 million. Although the scale is much smaller than BTC or ETH-related ETFs, its continuous and stable capital inflows reflect the market's long-term confidence in off-chain data infrastructure. Overall, the current situation does not indicate a market-wide loss of interest in crypto ETFs, but rather a structural reallocation of funds: investors are withdrawing from high-volatility, low-liquidity altcoin ETFs and shifting towards core assets such as Bitcoin. XRP's short-term trend will depend on whether its spot price can stabilize. If market sentiment remains cold and BTC continues to dominate fund flows, the probability of XRP ETF returning to sustained net inflows remains low.