Bitcoin exchange-traded funds have crossed $50 billion in combined inflows since launch as more investors pile into crypto funds. Meanwhile, the Teucrium 2x Long Daily XRP ETF (XXRP) is surging following Ripple’s stablecoin milestone.
The milestone comes as Bitcoin ETFs attracted $1.2 billion in net inflows during the first week of July, according to data from U.K.-based asset manager Farside Investors. BlackRock’s iShares Bitcoin Trust (IBIT) led flows with $581.5 million, followed by the Fidelity Wise Origin Bitcoin Fund (FBTC) at $324 million.
Bitcoin ETFs have accumulated $50.1 billion in total inflows since their launch last year, according to the data. The funds have generated $14.9 billion in net year-to-date flows, with IBIT accounting for $15.8 billion of that total.
The jump in crypto ETF activity comes as Bitcoin hit a new all-time high above $113,000 on Thursday and funds like XXRP see gains as Ripple’s stablecoin grows in market cap, according to CoinMarketCap data.
XXRP, which aims to provide twice the daily price movement of the XRP token through derivatives and swap agreements, has gained 18.1% over the past five days and nearly 40% year to date, according to FactSet. The fund has attracted $176.4 million in net flows since launch and holds $163.5 million in assets under management with a 1.89% expense ratio.
The timing of XXRP’s recent gains coincides with Ripple’s USD stablecoin (RLUSD) crossing $500 million in market capitalization, making it the 110th-largest cryptocurrency by market cap, according to CoinMarketCap data. RLUSD, issued by Standard Custody & Trust Company, launched less than eight months ago.
Bitcoin ETFs also showed strong performance across multiple funds in July. The ARK 21Shares Bitcoin ETF (ARKB) drew $217.1 million, while the Bitwise Bitcoin ETF (BITB) attracted $60.4 million, according to Farside data. The Grayscale Bitcoin Trust ETF (GBTC) has recorded $95.1 million in outflows so far this month.
Bitcoin’s 21.1% year-to-date performance has boosted ETF inflows, with the gains pushing Bitcoin ETFs to new all-time highs alongside the cryptocurrency’s recent rally.
