Spot XRP ETFs in the United States recorded their first daily net outflow since launch, bringing a 36-day run of uninterrupted inflows to an end. SoSoValue data showed that five US-listed spot XRP ETFs posted a combined net outflow of $40.8 million on Wednesday. Bitcoin and Ethereum ETFs also saw money leave on the same day, pointing to a short-term drop in risk appetite across crypto markets.
TOXR led the withdrawals while several peers still added funds
The largest move came from 21Shares’ TOXR fund, which saw $47.25 million in net outflows. At the same time, products from Canary, Bitwise, and Grayscale posted modest net inflows of around $2 million. Since November, when Canary’s XRPC product began operating, spot XRP ETFs had accumulated $1.25 billion in total net inflows through Wednesday, leaving the latest outflow relatively small against the broader total.
Price rally in XRP was followed by profit-taking
Analysts tied the pullback in flows to profit-taking after XRP’s recent price jump. The report said XRP had climbed from $1.8 to $2.4. BTC Markets crypto analyst Rachael Lucas said the outflow accounted for less than 3% of cumulative inflows, a sign that demand had not broken down. She pointed to low exchange reserves and high transaction volumes as evidence that interest remained in place, and said a fresh acceleration in inflows could put the $3 level back in focus.
Bitcoin and Ethereum ETFs saw heavier redemptions
XRP was not alone. Spot Bitcoin ETFs posted a net outflow of $486 million on Wednesday, including $247.6 million leaving Fidelity’s FBTC and $130 million from BlackRock’s IBIT. Over $700 million exited Bitcoin ETFs across two days. Spot Ethereum ETFs logged a $98.5 million net outflow, with Grayscale’s ETHE accounting for $52 million. It was also the first net outflow day of 2026 for Ethereum ETFs after those products had brought in $457 million during the year’s first three trading days.
Analysts pointed to rebalancing after strong moves
Lucas said the broader pattern looked like portfolio rebalancing after valuation gains and deleveraging after Bitcoin reached $94,000. Presto Research analyst Min Jung said investors had shown a temporary preference for equities, while caution in crypto was visible both in prices and ETF fund flows. For XRP ETFs, the first net outflow day interrupted a strong streak, but the size remained limited relative to the capital that had already entered the segment.