XRP ETFs are witnessing one of the strongest rallies to date, with new products from Grayscale and Franklin Templeton recording back-to-back daily inflows.
Namely, the funds have overall attracted $164.1 million on Monday, November 24, pushing their seven-day inflows to $586.8 million. Interestingly no outflows were reported during the same period.
Another interesting point to highlight with the newly launched XRP ETFs is that the growing institutional demand has helped the products outperform Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) products, which saw $151 million, $97 million, and $58 million in inflows on Monday, respectively.
In tandem with the XRP ETF inflows, XRP price has also reacted positively, trading $2.17 at the time of writing, up nearly 4.6% on the daily chart, after adding as much as $9 billion to the token’s market cap overnight.
The inflow imbalance is already raising questions over how major asset managers intend to position themselves in the evolving crypto ETF landscape.
Most notably, BlackRock, which remains the dominant force when it comes to Bitcoin and Ethereum funds, has yet to file for or participate in an XRP ETF.
Many see the hesitance as odd, considering that analysts already argue the surge in demand offers a glimpse of what a true ETF-driven breakout could look like with more serious exposure.
For example, the president of NovaDius Wealth, Nate Geraci, says “it will be highly interesting” to see how the battle between leading asset managers is going to play out.
“$1.7tril asset manager Franklin Templeton says XRP “plays a foundational role in global settlement infrastructure”… Will be highly interesting to see how world’s largest asset managers draw battle lines around various crypto assets,” wrote Geraci.
If inflows continue to accelerate, XRP’s availability through major brokerages and retirement platforms is expected to grow exponentially, providing additional liquidity and widening the asset’s use-cases, which is more than likely to lead to some “battle lines” being drawn around it, as Geraci has argued.
