Retail-driven demand for XRP ETFs outpaces Solana despite weaker price performance and declining institutional participation.
XRP spot ETFs have amassed $1.39 billion in cumulative inflows since their November 2025 launch, exceeding Solana ETFs’ $1.12 billion over the same period. The gap persists despite XRP’s 39% decline from its July 2025 peak and Solana’s stronger price performance this year.
Institutional participation remains limited, with only 16% of XRP ETF assets tied to 13F filers in Q4 2025. Goldman Sachs exited its $154 million XRP ETF position in Q1 2026, alongside its Solana ETF holdings, further reducing institutional exposure. Solana ETF inflows rebounded to $103 million in May, outpacing XRP’s $97 million for the month.
Retail investors now dominate XRP ETF holdings, contrasting with Solana’s mixed inflows. The divergence highlights shifting investor preferences amid broader crypto market volatility.