Spot ETF flow data for January 22, 2026, reveals a significant shift in institutional sentiment, with capital rotating away from market leaders Bitcoin and Ethereum and into select altcoins like XRP and Solana. According to data from SoSoValue and FarSide Investors, spot Bitcoin ETFs experienced net outflows of $32.11 million, while spot Ethereum ETFs saw even larger outflows of $41.98 million.
In stark contrast, spot XRP ETFs attracted $2.09 million in net inflows, with the Franklin XRP ETF (XRPZ) accounting for the entire positive flow. Spot Solana ETFs also recorded net inflows of $1.71 million. This divergence highlights a selective rebalancing of institutional portfolios rather than a broad exit from the crypto asset class.
Despite the ETF outflows, spot prices showed resilience. Bitcoin held near $89,437 and Ethereum traded around $2,944.37, suggesting the selling pressure was concentrated in structured ETF vehicles and not indicative of a broader market sell-off. Solana hovered near $127.81 and XRP traded around $1.91, maintaining key support levels.
The inflows into XRP are particularly notable in context. SoSoValue data indicates spot XRP ETFs now hold $1.37 billion in total net assets, with cumulative net flows reaching $1.23 billion. The daily trading value for XRP ETFs touched $18.05 million on January 22, and these ETFs now represent approximately 1.17% of XRP's total market capitalization, a significant share for a relatively new ETF category.
Analysts interpret the flows as a sign of selective risk appetite. Investors may be viewing XRP as an opportunity tied to regulatory clarity and potential undervaluation, while Solana benefits from its high-speed transaction narrative and active on-chain usage. The movement suggests institutions are not abandoning crypto but are tactically reallocating capital within the sector, seeking specific opportunities amid ongoing market volatility and a cautious macroeconomic backdrop.
