Since their recent launch, the first-ever XRP spot ETFs approved by the US SEC have been breaking records. Their success has allowed them to eclipse Bitcoin and Ethereum with $644 million in net inflows in November. Here’s an update.
Spot XRP ETFs: the best November on the market
After months and months of waiting, the US Securities and Exchange Commission (SEC) is finally beginning to issue approvals for the first spot crypto ETFs, other than those already in place since 2024 for Bitcoin and Ethereum.
This starting signal now concerns Ripple’s XRP cryptocurrency, since the launch of its very first fund by Canary Capital (XRPC) on November 14, closely followed by Bitwise (XRP) on the 20th and finally Franklin Templeton (XRPZ) and Grayscale (GXRP) at the beginning of this week.
These four funds were very popular from the moment they were launched, to the point of recording net inflows for the month of November—despite it being a difficult month for the crypto market—estimated at $644 million, without a single negative day.
This largely overshadows the negative results of Bitcoin and Ethereum spot ETFs over the same period, which accumulated net outflows of $3.5 million and $1.5 million, respectively. Even the Solana (SOL) ETF market lagged behind with total net inflows of $414 million.
Ripple, the new craze among institutional investors
This is a success for Ripple since the official withdrawal of regulatory charges against it by the US SEC. It is an opportunity for institutional structures to take advantage of its many offerings, such as the Dubai Financial Services Authority (DFSA), which has just authorized the use of its RLUSD stablecoin within the Dubai International Financial Center (DIFC).
In practice, this integration will allow companies regulated by the DFSA to use Ripple’s stablecoin within this financial free zone, which is intended to make Dubai a global financial services hub for the MEASA (Middle East, Africa, South Asia) region.
This approval also applies to the Financial Services Regulatory Authority (FSRA) in Abu Dhabi, which has just listed RLUSD as a fiat-pegged token within its international financial center located in the capital of the United Arab Emirates (UAE).
With a market capitalization of over $1 billion and growing adoption for core financial uses such as collateral and payments, RLUSD is rapidly becoming a benchmark USD stablecoin for large institutions. This momentum is helping to drive the next wave of global adoption of secure and compliant crypto assets.
Jack McDonald, Senior Vice President of Stablecoins at Ripple
Meanwhile, XRP has recorded the best performance of the top 10 cryptocurrencies over the last seven days, with a 15% increase that has brought it back to the $2.20 level.
Some analysts consider this position favorable for an imminent return to $2.75.
