Bitwise XRP ETF tops $200M in YTD inflows as institutional demand surges

Bitwise Asset Management's XRP exchange-traded fund surpassed $200 million in year-to-date net inflows, the latest signal that institutional appetite for the Ripple-linked token is accelerating.

Bitwise Asset Management's XRP ETF crossed $200 million in year-to-date net inflows as of June 23, bringing cumulative XRP product flows to $1.45 billion since their November 2025 launch.

"The sustained inflow pattern suggests institutional allocators are treating XRP as a distinct portfolio allocation rather than a tactical trade," said James Butterfill, head of research at CoinShares, which tracks digital asset fund flows.

The Bitwise milestone comes as XRP traded at $1.14 as of 14:00 UTC on June 23, down 0.3 percent on the day but holding above the $1.10 support level that has contained selling pressure since mid-June. XRP investment products drew $10.66 million in net inflows during the week ended June 18, according to SoSoValue data, while exchange-held XRP supply fell to approximately 1.6 billion tokens — the lowest level in seven years and roughly half the October 2025 peak.

The divergence between shrinking exchange supply and rising ETF accumulation sets up a potential supply squeeze if spot buying accelerates. The next trigger is the CLARITY Act, which cleared the Senate Banking Committee in a 15-9 bipartisan vote on May 14 and awaits a floor vote that the White House has targeted before the July 4 recess. Passage would classify XRP as a digital commodity under federal law, potentially unlocking the institutional capital that has remained on the sidelines.

ETF Inflows Outpace Broader Crypto Fund Slowdown

XRP ETF products have bucked a broader slowdown in crypto fund flows. While Bitcoin ETFs posted net outflows during parts of May and June, XRP funds recorded $131.94 million in net subscriptions in May alone — a monthly record since the products launched in November 2025, according to SoSoValue. Cumulative inflows across all XRP ETFs now stand at $1.45 billion, with Bitwise accounting for roughly 14 percent of that total through its $200 million YTD haul.

The institutional bid contrasts with retail traders' bearish stance. XRP's long-to-short ratio on Binance stood at 0.8474 as of June 22, a reading below 1 that typically indicates bearish sentiment among retail traders. Funding rates have flipped slightly positive at 0.0051 percent, suggesting the leverage market is cautiously leaning long but without the speculative excess that preceded previous sell-offs.

Supply Squeeze Setup as Exchange Reserves Hit Seven-Year Low

The supply dynamics add a structural tailwind. XRP held on centralized exchanges has declined to 1.6 billion tokens, the lowest since 2019 and a 50 percent reduction from October 2025 levels, according to CryptoQuant data. When exchange supply contracts while ETF demand rises, the available float for spot buyers shrinks, increasing upward price pressure on any breakout.

XRP's price remains below all major moving averages — the 50-day EMA at $1.29, the 100-day EMA at $1.38 and the 200-day EMA at $1.60 — meaning the technical trend has not yet turned bullish. A decisive move above $1.29 with volume would mark the start of a trend shift, while a break below $1.05 would open the door toward the $1.00 psychological level.

Standard Chartered has set a 2026 price target of $2.80 for XRP, contingent on the CLARITY Act passing and ETF inflows reaching $4 billion to $8 billion. Monte Carlo simulations cited by CryptoQuant project a probability-weighted median price of $1.56 if the bill clears the Senate and ETF inflows hold.

This article is for informational purposes only and does not constitute investment advice.