U.S. spot XRP ETFs pulled in $121.4 million in September on a five-session inflow streak, but their combined net assets fell to $1.69 billion as XRP slipped from a $1.66 high to near $1.49. Ripple's monthly escrow window opens October 1, with up to 1 billion XRP eligible for release.
A Five-Day Inflow Streak, But Assets Still Fell
Spot XRP ETFs took in $121.4 million in September on a five-session streak of inflows. Yet net assets across the funds slid to $1.69 billion by Sept. 29, down from $1.77 billion just three days earlier.
The funds sat flat Monday, Sept. 21, then took in roughly $20 million, $18 million, $14.9 million and $22.6 million over the next four sessions, a $75.6 million week. Monday, Sept. 28, added another $3.96 million, all into Canary's XRPC, extending the streak to five straight days. Cumulative net inflows since the products launched in late 2025 now stand at $1.79 billion, with Bitwise leading at about $677 million, followed by Franklin Templeton's XRPZ at roughly $501 million. Together, the seven U.S. funds hold about 1.18 billion XRP, or 1.18% of total supply.
The gap between inflows and assets is price, not redemptions. XRP hit $1.66 on Sept. 23 and now trades near $1.49, which shaves value off every coin already sitting in the funds' vaults. Net assets have now slipped below the $1.79 billion investors have put in, so the average ETF dollar is underwater.
September Still Trails August
September has not yet beaten August, when XRP ETFs pulled in more than $150 million, their best month of 2026, ahead of May's $131.94 million. With the month's final sessions still to be tallied, September needs roughly another $29 million to catch August. For comparison, spot bitcoin ETFs drew $66.19 million on Sept. 29 alone, led by BlackRock's IBIT at $51.09 million, while bitcoin's price has held above $83,000. XRP's inflows are steady, but they remain a trickle next to that.
Two Dates That Could Shift the Picture
Kalshi traders had priced a shot at XRP reaching $1.70 in September. With the month closing and XRP near $1.49, that contract looks out of reach. Then, on Oct. 1, Ripple's monthly escrow window opens, with capacity to release up to 1 billion XRP. Historically, unused amounts have been re-locked, but the unlock alone is almost as large as everything the U.S. ETFs have accumulated since launch. Ripple still holds about 31.98 billion XRP in escrow, roughly 32% of supply, plus another 4.74 billion in operational wallets.
Buyers are still showing up for XRP ETFs, just not fast enough to outrun the price. If XRP reclaims $1.60 in October, the asset line catches up to the inflow line quickly. If it keeps sliding, September's $121.4 million will read more like a cushion than a rally.
Source: Bitcoin.com News
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