Key Takeaways
- • XRP traded near $1.29 on October 29, roughly 25% below the estimated average acquisition price of about $1.71 for U.S. spot XRP ETFs, according to XRP Insights data cited by Cointribune.
- • Monitored XRP ETF holdings fell only 0.26% between October 23 and 28, with six U.S. spot XRP ETFs holding about 1.17 billion tokens (roughly $1.56 billion) as of October 28.
- • Net outflows totaled 2.96 million XRP (about $3.9 million) between October 26 and 28, a limited movement relative to total holdings.
- • Bitwise accounted for most of the withdrawals, but its holdings rebounded to 416.05 million XRP on October 29, recovering about 2.23 million tokens.
- • XRP fell further to about $1.255 on Binance on October 30, widening the gap to the estimated average cost to roughly 26.5%.
Summary
XRP is trading well below the estimated average acquisition price of U.S. spot XRP exchange-traded funds, yet fund holdings have changed little, according to data from XRP Insights as reported by Cointribune. On October 29, the token traded around $1.29, about 25% below the funds' estimated average cost of roughly $1.71 per token, a calculation based on initial positions and daily holdings changes since December 2025. Cointribune notes that the gap is not equivalent to a 25% loss for each investor, since ETF shares are bought and sold on different dates and at prices that may differ substantially from the theoretical average.
Holdings have been resilient. Between October 26 and 28, the monitored crypto funds recorded a net decrease of 2.96 million XRP, about $3.9 million. Across October 23 to 28, monitored holdings fell only 0.26%. As of October 28, the six American spot XRP ETFs held about 1.17 billion tokens, representing $1.56 billion in assets. Including the XRP held by the Bitwise 10 Crypto Index Fund (BITW), exposure reached 1.19 billion tokens, close to 1.2% of the 100 billion XRP created. The flow calculation includes BITW but excludes Grayscale's GXRP due to a historical gap in data collection, although Grayscale's holdings are counted in total tokens.
Most of the movement came from Bitwise, whose XRP ETF fell from about 416.61 million tokens on October 23 to 413.82 million three days later, a decline of roughly 2.79 million XRP. Franklin Templeton and 21Shares recorded no changes over the period studied, and the monitored funds added about 174,140 XRP on October 28. According to issuer-published holdings, Bitwise held 416.05 million XRP on October 29, recovering much of the earlier decline. Cointribune cautions that complete data for all funds for that session had not yet been consolidated.
The article stresses that changes in ETF reserves do not automatically mirror investor buying or selling on the stock market, since creations and redemptions, fees, and rebalancings also affect holdings. Flows have been irregular: XRP ETFs attracted capital on October 8 despite weak prices, but weekly inflows had slowed significantly. For comparison, XRP ETFs took in $110.49 million in one week at the end of August, their best weekly performance of the year at that time, a figure well above current levels.
Price pressure persisted into October 30. Around 8:32 UTC, XRP traded near $1.255 on Binance, pushing the gap to the estimated average cost to about 26.5%. Cointribune concludes that stable reserves are encouraging for holders but insufficient to signal a rebound, and that sustained net share creations over several sessions would be needed to demonstrate a true buyers' return.
Holdings have been resilient. Between October 26 and 28, the monitored crypto funds recorded a net decrease of 2.96 million XRP, about $3.9 million. Across October 23 to 28, monitored holdings fell only 0.26%. As of October 28, the six American spot XRP ETFs held about 1.17 billion tokens, representing $1.56 billion in assets. Including the XRP held by the Bitwise 10 Crypto Index Fund (BITW), exposure reached 1.19 billion tokens, close to 1.2% of the 100 billion XRP created. The flow calculation includes BITW but excludes Grayscale's GXRP due to a historical gap in data collection, although Grayscale's holdings are counted in total tokens.
Most of the movement came from Bitwise, whose XRP ETF fell from about 416.61 million tokens on October 23 to 413.82 million three days later, a decline of roughly 2.79 million XRP. Franklin Templeton and 21Shares recorded no changes over the period studied, and the monitored funds added about 174,140 XRP on October 28. According to issuer-published holdings, Bitwise held 416.05 million XRP on October 29, recovering much of the earlier decline. Cointribune cautions that complete data for all funds for that session had not yet been consolidated.
The article stresses that changes in ETF reserves do not automatically mirror investor buying or selling on the stock market, since creations and redemptions, fees, and rebalancings also affect holdings. Flows have been irregular: XRP ETFs attracted capital on October 8 despite weak prices, but weekly inflows had slowed significantly. For comparison, XRP ETFs took in $110.49 million in one week at the end of August, their best weekly performance of the year at that time, a figure well above current levels.
Price pressure persisted into October 30. Around 8:32 UTC, XRP traded near $1.255 on Binance, pushing the gap to the estimated average cost to about 26.5%. Cointribune concludes that stable reserves are encouraging for holders but insufficient to signal a rebound, and that sustained net share creations over several sessions would be needed to demonstrate a true buyers' return.
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