U.S.-listed XRP ETFs are pulling a growing share of tokens out of circulation. Data cited from SoSoValue shows these funds now hold a combined net asset value of $1.18 billion. With XRP trading near $1.48, that amount represents about 1.3% of the token’s circulating supply, effectively removed from the open market.
Major ETF issuers are estimated to hold 770 million to 840 million XRP
The report says investors in leading XRP ETFs, including Grayscale, Franklin Templeton, Bitwise, and Canary, collectively control roughly 770 million to 840 million XRP. That means a noticeable portion of tradable supply has shifted into institutional vehicles. The change is large enough to tighten available float, even if it has not yet produced an immediate price response.
XRP has remained range-bound for about 80 days, trading between $1.30 and $1.50. The article notes that even as ETF inflows hit records in fall 2024, XRP still fell 27%. That gap suggests fund accumulation alone does not automatically translate into higher spot prices on a short timetable.
Thinner order books could make future moves sharper
The piece points to shrinking exchange order books as a factor worth watching. If risk appetite returns and new buying pressure enters the market, reduced available supply could lead to faster upside moves. The quoted view in the article says the $1.18 billion that entered XRP ETFs has isolated 1.3% of total supply inside institutional funds, with the full market effect likely to appear only when demand strengthens again.
Buterin donates 64 ETH while Hayes repeats a bullish Bitcoin target
The article also highlights Ethereum co-founder Vitalik Buterin, who said he donated 64 ETH to an animal welfare charity. He paired the announcement with a manifesto focused on progress in vegan food and alternative meat technology. The report says the donation is too small to affect trading, but it fits a pattern of crypto-related giving associated with Buterin since his high-profile SHIB actions in 2021.
On the macro side, BitMEX founder Arthur Hayes argued that U.S.-China competition in artificial intelligence and data infrastructure could feed a new liquidity cycle. Based on that view, he projected Bitcoin could reach $126,000. Hayes also said Bitcoin may have found a bottom near $60,000 and could rally above $90,000 if liquidity conditions improve.
ETF flows, Senate action, and macro data remain in focus
In the broader market roundup, the report says Bitcoin traded around $81,000 in the second week of May. CryptoAppsy data showed spot Bitcoin ETFs brought in $1.28 billion in net inflows for the month, while additional BTC purchases by MicroStrategy supported sentiment. On regulation, the U.S. Senate Banking Committee introduced the Clarity Act, a bill that would ban stablecoin yield products and also seek protections for DeFi developers, with a vote scheduled for Thursday. The article adds that MARA Holdings, despite a 18% year-on-year drop in first-quarter revenue, still plans to keep mined BTC as its main reserve asset.