Crypto investment products are showing an unusual divergence, where Solana and XRP ETFs have managed to capture nearly 900 million dollars in combined net inflows. Despite the widespread correction affecting the digital market, these specific funds have not recorded a single day of outflows since their launch. Steven McClurg, CEO of Canary Capital, publicly congratulated his competitors on the successful debut, highlighting the importance of supporting the joint growth of the sector.
While Bitcoin and Ether exchange-traded funds face one of their worst historical streaks of withdrawals, institutional interest seems to rotate towards alternative assets. According to reported data, Solana-based vehicles accumulated nearly 500 million dollars, while XRP ones added 410 million to date. This trend suggests conviction from investors seeking to diversify their portfolios beyond the two main cryptocurrencies, even in a depressed price environment.
Why are investors betting on altcoins while the market retreats?
The launch of the Bitwise fund under the ticker “XRP” this Thursday marked a major milestone, raising 105 million dollars on its first trading day. For its part, Canary’s XRPC product added another 12.8 million the same day, consolidating a total daily flow of 118 million. Canary holds the record for the largest daily inflow for an XRP ETF, having attracted 243 million dollars on November 14, demonstrating the strength of institutional demand for this particular asset.
In parallel, financial products linked to Solana showed similar resilience during the week, with daily captures ranging between 8.26 and 55.61 million dollars. November 19 recorded the strongest flow for these instruments. This dynamic of constant accumulation contrasts drastically with the massive withdrawals observed in flagship Bitcoin products, signaling a possible decoupling in long-term investment strategies of large companies and capital managers.
Will institutional capital flow manage to reverse the price drop?
Despite the success in fund raising, the performance of underlying assets in the spot market remains negative. Solana has experienced a 32.5% drop in the last month, trading around 122.94 dollars, representing an annual decline of 52.3%. Similarly, XRP has retreated 21.2% in the last 30 days, although it maintains a positive annual performance of 49.9% with a price of 1.86 dollars. This disconnection between inflows and price raises questions about the latency of institutional impact.
The market is in a contradiction phase where capital enters regulated vehicles but spot prices continue to suffer. Sustained accumulation in these ETFs could act as a fundamental support once generalized selling pressure subsides. Analysts are closely watching if this “altseason” of exchange-traded funds will finally catalyze a recovery in token valuations, or if the current divergence will persist in the short term.
Institutional investors seem to be taking advantage of low prices to build strategic positions in high-cap alternative assets. The consistency of net inflows suggests an optimistic long-term view, regardless of immediate volatility. The sector waits to see if this confidence translates into market stabilization or if macroeconomic factors will continue to weigh on cryptocurrency quotations.
