The latest data on U.S.-listed spot XRP exchange-traded funds (ETFs) reveals a nuanced picture of institutional demand, with concentrated inflows on February 13th but broader weekly trends indicating a potential slowdown. On that specific day, total daily net inflows reached 3.19 million XRP, equivalent to approximately $4.5 million in dollar value. This activity was not uniform across all available funds.
The February 13th inflow breakdown shows capital moving selectively rather than broadly. The flows were concentrated in three issuers, while two funds recorded no new positioning. Bitwise's 2XRP fund led the session, accounting for more than half of the daily allocation with an inflow of 1.79 million XRP ($2.52M). Franklin Templeton's 3XRPZ followed with 1.09 million XRP ($1.53M), and Canary Capital's 1XRPC added 319.19K XRP ($449.65K). In contrast, funds from 21Shares and Grayscale saw zero net inflows for the day.
Premium readings for the three active funds remained positive, indicating they traded above their net asset value. Bitwise, Franklin, and Canary showed premiums of +0.49%, +0.19%, and +0.28%, respectively. Grayscale's fund traded at a slight discount of -0.14%. The cumulative net inflows for the three largest funds all exceed $328 million, confirming that institutional exposure to XRP via ETFs is materially established.
However, a weekly review paints a more cautious picture. After an impressive debut in November 2025 and a streak of over a month without a single day of net outflows, demand has shown signs of weakening. The week leading up to the report saw mixed performance: net inflows of $6.31M, $3.26M, and $4.5M on Monday, Tuesday, and Friday, respectively, but a net withdrawal of $6.42M on Thursday. Although the week ended with a net positive of $7.65 million, the figures represent a clear decline from earlier, more robust inflows.
This trend reversal raises questions about sustained institutional appetite. Analysts note that concentrated inflows into specific vehicles point to investor preferences tied to liquidity, fees, or mandate constraints, rather than broad-based demand. For a structural shift in allocation behavior, sustained follow-through across multiple sessions and issuers would be required. Despite the cooling ETF demand, XRP's price exhibited significant volatility, recently pushing to a multi-week peak above $1.65 before retracing to around $1.55, maintaining a market capitalization above $90 billion.
