The recently launched XRP Exchange-Traded Funds are weathering a brutal market storm, and the top brass at Ripple is paying close attention. One does so admire a good disaster when it is dressed up as an investment vehicle.
Following a steep 45% drawdown in the spot price of XRP, some expected that there would be a massive exodus. How delightful it is to be proven wrong by the very people who presume to predict the future. The crowd that predicted ruin has been forced to eat their predictions, and I must say, they appear to havedigestedit remarkably well.
Instead, the XRP ETFs are demonstrating remarkable staying power. This unexpected resilience recently caught the eye of Bloomberg’s top ETF analysts and prompted a reaction from Ripple CEO Brad Garlinghouse. One cannot help but wonder if Mr. Garlinghouse smiled, or if he is simply too busy counting his considerable fortune to bother with such trivial matters as joy.
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– Brad Garlinghouse (@bgarlinghouse) March 12, 2026
As reported by U.Today, Bloomberg recently took note of the surprising stickiness of XRP ETF capital. One does so admire “stickiness” in these modern times. It is almost as admirable as actual profitability, though considerably less common.
While the ETFs have certainly felt the sting of the crypto winter, the underlying inflow metrics reveal a fiercely loyal investor base. The funds saw massive nine-figure injections right out of the gate with $164 million in net inflows on Nov. 24. Loyalty, in this day and age, is merely another word for stubbornness with a better PR team.
January brought violent outflows. According to SoSoValue data, the combined Total Net Assets (TNA) of the XRP ETFs peaked at $1.65 billion in January. Due to the heavy depreciation of XRP’s spot price, that number has currently slipped to just below the $1 billion mark, sitting at $971 million. One million is, of course, merely a rounding error for the truly wealthy, but for the rest of us, it remains a rather pleasing sum to contemplate.
The ETF leaders
The XRP ETF niche is currently dominated by a tight race between Canary and Bitwise. Competition, as one knows, is merely the polite name for mutual admiration between people who have never actually met.
Canary’s XRPC fund holds the top position with $273.02 million in net assets and the highest historical cumulative inflows at $419.44 million. One cannot help but admire a fund that charges the highest sponsor fee at 0.50% and still manages to lead. This is what I call the art of modern finance-charging more for less and being rewarded for it.
Interestingly, Canary maintains this lead despite charging the highest sponsor fee of the group at 0.50%. Bitwise, however, is the clear leader in market liquidity. One suspects this is because Bitwise understands that liquidity, like charity, begins at home.
Franklin secures a solid third place with $225.65 million in assets, likely bolstered by its highly competitive 0.19% fee structure, the lowest among the top issuers. The virtue of low fees! How rarely one encounters it in this wilderness of Wall Street.
The 21Shares TOXR fund presents a notable anomaly in the fourth position, although it manages $156.11 million in assets. Anomaly is such a dignified word for “barely surviving,” don’t you think?
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2026-03-12 11:17