XRP ETFs Now Hold 1.7% of All XRP After Crossing $1.70 Billion. Who Is Still Buying at $1.36?

XRP ETFs Now Hold 1.7% of All XRP After Crossing $1.70 Billion. Who Is Still Buying at $1.36?

Sam Daodu

Sat, September 12, 2026 at 1:36 AM GMT+3 5 min read

• XRP-USD +0.13%

Quick Read

• XRP ETFs pulled in $17 million over two sessions even as XRP dropped 4% to $1.36, pushing cumulative inflows past $1.70 billion.

• ETFs now hold 1.07 billion XRP, locking over 1.7% of circulating supply inside fund custody and shrinking the tradeable float.

• Inflows were driven by institutional and RIA scheduled buying rather than retail conviction, with the Fed's September 16 rate decision serving as the next real test.

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XRP (CRYPTO:XRP) trades at $1.36 today, up nearly 1% over the past 24 hours. The move follows a weaker session on September 10, when U.S. spot XRP exchange-traded funds still recorded $5.14 million in net inflows, according to SoSoValue, even as total net assets across the funds fell 4% that day.

The funds brought in another $12.29 million on September 9, pushing cumulative net inflows since launch above $1.70 billion. With fresh money flowing into XRP ETFs even as their holdings lose value, who is buying, and what does the ETF flow say about XRP's next move?

XRP ETFs Took In Money While Price Fell 4%

U.S. spot XRP ETFs recorded $5.14 million in net inflows on September 10, 2026, according to SoSoValue. The funds brought in another $12.29 million the day before, for $17.43 million in fresh inflows across two sessions.

Net inflows show how much money investors added to ETF shares after deducting redemptions. They do not tell us how the underlying XRP performed. An ETF can attract new money while its XRP holdings lose value because new share creations and XRP's market price are driven by different transactions.

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Total net assets fell from $1.51 billion on September 9 to $1.45 billion on September 10, down about $60 million, or 4%. So investors were still adding money to the funds, but the value of the XRP they already held fell by much more. The flow data shows continued buying interest, while the assets figure reflects the weaker XRP price.

XRP ETFs Zero-Outflow Streak Broke on September 2

The streak finally broke on September 2, 2026, when U.S. spot XRP ETFs recorded a $7.20 million outflow. But the setback lasted just one session. Inflows returned with $6.14 million on September 3, followed by a flat day on September 4.

After a short gap in the data, money started flowing in again on September 8 with $1.55 million. The pace then picked up sharply, with $12.29 million on September 9 and another $5.14 million on September 10. Trading volume on September 10 reached $29.43 million, according to SoSoValue's daily history.

The bigger point is that one outflow was quickly followed by fresh inflows, and cumulative net inflows still crossed $1.70 billion by September 9. So far, the ETF flow data shows buyers stepping back in whenever redemptions briefly appear.

How Much XRP Is Actually

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Inside the Funds

SoSoValue puts XRP ETF net assets at about 1.70% of XRP's market cap. That does not mean the funds directly hold 1.70% of all XRP in circulation, although the figures are close in this case.

Using the $1.45 billion in net assets and XRP's $1.36 price gives an estimated 1.07 billion XRP held across the funds. Compared with the roughly 62.87 billion XRP in circulation, that is about 1.70%. This is a derived estimate that assumes the funds' net assets are essentially backed by spot XRP.

The bigger point is what happens to those coins once they enter the funds. XRP held in ETF custody is no longer freely traded unless the funds redeem shares and release the coins. So when the ETFs took in $17.43 million over two sessions, that represented additional demand for XRP that moved coins into fund custody, regardless of where the price traded.

Who Is Buying at $1.36?

The two-day $17.43 million inflow points to steady demand from investors who already use ETFs as their preferred way to gain XRP exposure. Net assets fell by about $60 million over the same period, yet the inflow continued, suggesting some allocators are still adding exposure even as XRP's price weakens.

The flow does not prove that institutions are buying, and it does not show that XRP has found a bottom. It simply shows that money is still entering the funds. Investors may be buying on a schedule, adding small positions, or using ETFs because they fit more easily into existing investment accounts.

The next test comes when the Federal Reserve decides rates on September 16, 2026. If XRP falls but the ETFs continue to attract money, the current pattern remains intact. If the Fed decision triggers a wave of redemptions, September 2 may prove to have been the early warning.

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