XRP ETFs Top $1B in Inflows, But Analysts Warn the Rally May Fade

XRP exchange-traded funds have taken in about US$1.2 billion (AU$1.84 billion) since launching in mid-November 2025. SoSoValue data shows they recorded net inflows on all but one trading day in that period.

That streak contrasts with the rest of the crypto ETF market. Over the same window, Bitcoin ETFs saw about US$2.4 billion (AU$3.67 billion) in net outflows and Ethereum ETFs about US$898 million (AU$1.37 billion) in net outflows, based on figures cited from DefiLlama.

Part of the bid is coming from investors who prefer Ripple’s compliance-heavy pitch. 

Katherine Dowling, president of the Bitcoin Standard Treasury Company, told DL News XRP could be a bigger winner if the proposed Clarity Act becomes law, which she described as increasingly likely. She also pointed to Ripple’s recent deal flow as support for the narrative.

As Crypto News Australia reported, Ripple said in November it raised US$500 million (AU$765 million), valuing the company at US$40 billion (AU$61.2 billion), and named Citadel Securities, Fortress, Pantera Capital, and Galaxy Digital among participants. The same day, Ripple announced a partnership with Mastercard and Gemini aimed at stablecoin payments.

Read more: Ripple Triggers Market Buzz With 300M XRP Transfer as XRP Outpaces Majors

Skeptics Weigh In

Skeptics argue the XRP ETF demand is detached from what usually sustains a network, which is developer activity. For instance, Brian Huang, co-founder of Glider, told DL News he looks at where builders are working, and XRP barely registers on Andreessen Horowitz’s “builder mindshare” tracking. 

So, in other words, developers build apps and infrastructure, that brings users, and that supports token value. Without that pipeline, he expects limited growth. He also doubts the buyers behind crypto ETFs will want to stick with XRP long-term, arguing many large investors don’t treat a Ripple-linked token as a serious core holding.

Read more: Ripple Stays Private as XRP Expands Onchain, With First Spot Market Launching on Hyperliquid

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