The Teucrium 2x Long Daily XRP ETF (XXRP) has seen a significant milestone this week, with net flows reaching $323.6 million. XXRP is the first XRP exchange-traded fund (ETF) in the US to surpass the $300 million threshold, according to data from VettaFi.
XXRP now accounts for 52.5% of the total $616 million in net flows recorded by US-traded XRP ETFs. It’s worth noting that all exchange-traded products (ETPs) linked to XRP in the US are tied to derivatives, as the SEC has yet to approve spot products as of July 29.
Impressive Growth
CoinShares data shows that XRP ETPs attracted $189 million in inflows last week. XXRP’s $73.4 million in net flows represented 39% of global flows and a 22.7% weekly growth in inflows.
On July 21, XXRP set a new record for daily volume among XRP ETFs in the US, with $50.4 million traded.
The Teucrium ETF, launched on April 8, is the oldest among the four XRP ETFs in the US. Volatility Shares introduced its XRP products, XRPI and XRPT, on May 22. While XRPI provides no leverage, XRPT offers exposure to 2x leverage.
As of July 28, XRPI saw $124.6 million in inflows, while XRPT recorded nearly $168 million in net flows during the same period.
Last week, Volatility Shares’ XRPI and XRPT saw similar growth, with XRPI inflows increasing by 27% ($33.6 million) and XRPT adding $43.6 million in inflows, a 26% growth.
The newest addition, ProShares Ultra XRP ETF (UXRP), went live on July 16 and has attracted roughly $101,000 in inflows since its launch.
Competition with Solana Products
Despite XRP surpassing Solana (SOL) in total market cap to become the third-largest cryptocurrency, XRP ETPs have seen lower inflows compared to SOL-related products this year.
XRP products recorded nearly $410 million in year-to-date flows by the end of June, while SOL products attracted $292.5 million.
However, XRP products now total $721 million in global net flows, trailing behind Solana-tied ETPs with $844 million in inflows.
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