SOL and XRP ETFs have attracted nearly $900 million in combined inflows, highlighting rare investor conviction amid an ongoing market rout.
While spot Bitcoin and Ether exchange-traded funds (ETFs) are facing some of the biggest daily outflows since they launch, two new altcoin products are bucking the trend.
Despite the broader market rout, Solana (SOL) and XRP (XRP) ETFs have yet to record a single outflow day since launch, according to crypto ETF data aggregator SoSoValue. This makes the two altcoin ETFs rare green marks in an otherwise red ETF landscape.
The inflows are becoming substantial. Data shows that Solana-based spot ETFs have accumulated nearly $500 million in net inflows, while XRP ETFs have seen $410 million in cumulative net inflows to date.
The divergence comes amid one of the most severe multi-week outflow streaks in spot Bitcoin (BTC) and Ether (ETH) ETF history. While flagship crypto products are seeing large-scale redemptions, steady inflows into new ETFs suggest a small but notable hint of conviction among investors exploring exposure beyond the two largest assets.
On Thursday, Bitwise Asset Management launched its XRP ETF under the ticker “XRP.” The ETF made a strong debut, pulling in $105 million on its first trading day, according to SoSoValue data.
Asset manager Canary’s XRPC added another $12.8 million on Thursday, bringing total inflows to $118 million on the day.
Canary CEO Steven McClurg congratulated Bitwise on the launch, saying that they’re “rooting” for them despite being competitors in the space.
Canary has also contributed to the consistency of XRP ETF inflows. It currently holds the record for the largest XRP ETF inflow day, pulling in $243 million in inflows on Nov. 14 for XRPC.
Solana-based ETFs displayed a similar pattern of resilience, recording consistent daily inflows even as the broader markets declined.
SOL-based ETF products attracted between $8.26 million and $55.61 million per day this week, with Nov. 19 marking the strongest daily inflow.
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Despite the steady gains posted by SOL and XRP-based ETFs, the underlying assets behind the exchange-traded products saw poor performances in the past month.
Solana declined by 32.5% in the past month and 10.9% in the last week, according to CoinGecko data. At the time of writing, the token trades at $122.94, representing a 52.3% decline in the last year.
Meanwhile, XRP performed similarly recently, declining by 21.2% over the last 30 days and 16.6% over the last week.
However, its yearly chart tells a different story. The asset currently trades at $1.86, representing a 49.9% increase over the past year, according to CoinGecko.
