NEW YORK, Sept. 5, 2026, 10:26 p.m. EDT — U.S. spot-XRP funds now hold about $1.48 billion of assets, roughly $210 million less than their cumulative net inflows. XRP’s rebound to $1.42 has not closed that difference. The funds still took in $18.96 million last week.
Cumulative net inflows reached about $1.69 billion, according to SoSoValue data reproduced by CryptoTuts. The two figures measure net creations and current marked assets. They cannot establish any buyer’s personal loss.
The gap is the market signal. Capital is still entering regulated wrappers while XRP stays near $1.40. New demand cushions sellers; price still decides the portfolio result.
A rebound, then a $1.47 rejection
Kraken XRP/USD references at 4 p.m. ET; final point is live
As of . Sources: Kraken hourly market data and CoinGecko. Prices vary by venue.
The flow worked as a cushion
XRP’s path was far less calm than the weekly change suggests. Kraken’s 4 p.m. reference fell to $1.3508 on Wednesday. It jumped to $1.4712 one day later, then surrendered most of that rise.
The fund tape also changed direction. An 11-session inflow streak ended Wednesday with a $7.2 million outflow. Thursday recovered $6.14 million, while Friday brought no net movement.
One red day broke the streak
Net creations and redemptions across five U.S. spot-XRP funds
Source: SoSoValue figures archived by CryptoTuts. Zero denotes no reported net creation or redemption.
Bitwise research analyst Ryan Rasmussen supplied a glimpse of prospective demand. XRP was “the most asked about throughout the presentation” to roughly 400 wealth managers, he wrote Thursday. He added that there was “a lot of interest.”
The audience poll needs restraint. About 67% said they held no current crypto allocation, according to the published results. Questions show curiosity; fund creations show money.
The missing $210 million
Inflows exceed the assets left today
Rounded fund-complex figures as of Sept. 4
Calculated from fund-flow and AUM data attributed to SoSoValue. This comparison is an analytical estimate, not a fund-level accounting loss.
The comparison is an arithmetic lens. Flows arrive at different prices, while AUM reflects redemptions, fees and daily market marks. It cannot assign a return to any individual buyer.
Bitwise’s own filing shows the same mechanism. Its XRP fund recorded $269.9 million of creation-related additions during the first half. Redemptions removed $34.3 million, according to the Aug. 12 SEC filing.
Operations still lost $176.6 million during that period. XRP fell from $1.82 on Dec. 31 to $1.04 on June 30. The fund ended June with 286.8 million XRP and $299.1 million of net assets.
Saturday’s $1.42 price stands roughly 36% above that June valuation level. A current issuer check also shows scale: the 21Shares XRP fund reported $154.6 million of assets on Friday. Its NAV was $13.65.
The holiday widens the timing gap
U.S. fund shares stopped trading Friday. They remain closed Monday for Labor Day. XRP itself trades around the clock.
That distinction matters this weekend. A sharp token move can create a gap when the funds reopen Tuesday. Buyers cannot use the exchange-traded wrappers during the intervening hours.
The central risk remains XRP’s volatility. Single-asset products also charge fees and can trade away from NAV. The 21Shares disclosure says investors could lose their entire investment.
Tuesday offers a clean test. Holding above Friday’s $1.4002 reference while creations resume would strengthen the demand case. A break below Wednesday’s $1.3508 mark would show that fund buying is mainly absorbing sellers.
