New York, May 10, 2026, 13:31 (EDT)
- Another $6.04 million poured into U.S. spot XRP ETFs on May 8, bringing total net inflows to roughly $1.325 billion, SoSoValue data cited by Bitget shows.
- Those inflows came after a pilot involving Ripple, Ondo Finance, Mastercard, and Kinexys by J.P. Morgan connected the XRP Ledger with traditional bank settlement rails.
- Policy and macro numbers are on deck: the Senate Banking Committee will consider the CLARITY Act on May 14, just after the U.S. CPI reading drops May 12.
U.S. spot XRP exchange-traded funds have now pulled in around $1.325 billion in cumulative net inflows, riding momentum from a May rebound that’s kept attention on Ripple-linked assets—even though the token remains well below last year’s peak. On May 8, fresh inflows totaled $6.04 million, according to SoSoValue data cited by Bitget, with only the Canary XRP ETF seeing net new money that session.
Timing is key here. The recent inflows landed just days after Ondo Finance announced that Ripple, Mastercard, and Kinexys by J.P. Morgan wrapped up a pilot redeeming tokenized U.S. Treasuries—those are blockchain-based records linked to short-term government debt—moving them across both public blockchains and traditional bank rails.
On Sunday, with U.S.-listed ETF shares inactive during the weekend, the action turned to XRP directly. CoinMarketCap showed XRP trading at roughly $1.47, up 3.87% over the past day, bringing its market cap close to $91 billion.
Unlike futures-based funds, a spot ETF tracks the actual asset. That’s the idea behind Canary’s proposed XRP ETF: it aims to mirror the value of XRP stored in the trust, minus any expenses and liabilities.
This wasn’t just a one-off jump in May. According to a 24/7 Wall St. piece picked up by Yahoo Finance, XRP ETFs attracted roughly $28.1 million from May 4 to May 6. U.Today, citing SoSoValue, reported weekly net inflows soaring past $34.21 million for the week that ended May 8.
The bank-rail pilot stands out as the real backbone here. According to Ondo, Ripple redeemed a chunk of its Ondo Short-Term U.S. Government Treasuries on the XRP Ledger. Mastercard’s Multi-Token Network handled the fiat side, while Kinexys pulled funds from Ondo’s blockchain deposit. Dollars landed in Ripple’s Singapore bank account via J.P. Morgan’s correspondent rails.
Ian De Bode, president at Ondo Finance, described the deal as happening “outside traditional banking windows.” Markus Infanger of RippleX called it a “meaningful step forward.” Kinexys’s Zack Chestnut said there’s a need for “wholesale cross-industry collaboration.” Raj Dhamodharan at Mastercard noted the focus now is on how tokenized commerce could “operate at scale in real time.” PR Newswire
Bitcoin and ether still dominate the landscape. As of Sunday, CoinGecko showed bitcoin hovering close to $81,395, with ether at $2,356. XRP, meanwhile, changed hands around $1.49, slotting in fourth by market value—a presence that tops most altcoins, though bitcoin’s scale remains in another league.
Still, this was only a pilot—not a full-scale launch. Canary flags XRP’s volatility and points out that its ETF isn’t registered under the 1940 Act as an investment company. Ondo’s OUSG carries its own limits, available only to accredited investors and qualified purchasers. Those restrictions matter, especially if some investors read these infrastructure experiments as evidence of broad adoption.
Policy remains a swing factor. The U.S. Senate Banking Committee plans to take up the CLARITY Act, a crypto market-structure bill clarifying regulatory turf, on May 14. Still, Reuters notes the measure needs Democratic support and faces pushback on its path through the Senate.
Macro risks are front and center. The Bureau of Labor Statistics will publish April CPI numbers on May 12 at 8:30 a.m. ET; a higher-than-expected inflation figure could rattle crypto risk appetite, but if the reading comes in softer, ETF demand might stand out as the more reliable short-term indicator for XRP.
At the moment, fresh capital continues to move into the regulated XRP wrapper, though the token’s price hasn’t budged much, holding within a narrow band. The real test comes Monday, as U.S. markets open and investors find out if those weekend inflows and ongoing bank-settlement stories actually translate into ETF buying, once Nasdaq-listed products are back in action.
