Bitwise's spot XRP ETF recorded $2.49M in net inflows on Monday, the only product in the category to attract capital as competing offerings remained inactive, according to flow data published July 21.
The inflows arrived as total XRP spot ETF assets under management reached $1.02B. Bitwise is the dominant issuer in the category, and the Monday activity marked a rare moment of investor interest after weeks of sharply muted demand. May and April 2026 saw substantially larger daily inflows across the sector before appetite cooled through June and into July.
XRP spot ETFs launched in the United States in late 2024 following years of regulatory uncertainty around Ripple, the blockchain firm behind the XRP ledger. The product category has grown to include offerings from multiple issuers, though Bitwise has maintained market leadership since inception. The $1.02B total AUM across all XRP spot ETFs remains modest relative to Bitcoin and Ethereum spot ETF cohorts, which hold tens of billions.
Monday's inflow came as XRP traded in the upper $2 range, having recovered from early-July weakness. Spot XRP ETFs track the asset's price directly. The mechanics mirror those of Bitcoin and Ethereum spot products: a fund purchases XRP on the open market, holds it in custody, and issues shares to investors who seek price exposure without direct custody or exchange account setup.
Investor appetite for XRP products has proven cyclical. The category drew $6.78M in cumulative net inflows through mid-July, according to flow tracking, but the pace of daily additions has slowed sharply since May. Bitwise captured all inflows on Monday while competitors drew zero.
Bitwise's $2.49M Monday inflow represents less than 0.25 percent of the category's total $1.02B AUM. Bitwise received 100 percent of the day's XRP ETF inflows, though the absolute magnitude remains modest by institutional standards.
The metric to watch is whether inflows resume consistency in coming weeks or revert to the near-zero baseline that defined late June and early July. If Bitwise and competing issuers do not show sustained daily activity by early August, appetite will remain suppressed relative to the first half of 2026.
