US spot XRP ETFs see $2.47M daily net outflow
- —Net outflow from XRP ETFs on Oct. 16 was $2.47 million
- —Canary XRP ETF (XRPC) was the only fund with outflows
- —Total XRP ETF net assets reached $1.471 billion, or 1.79% of XRP's market cap
- —Cumulative inflows into XRP ETFs total $1.8 billion
Why it matters: The first notable outflow from XRP ETFs may point to weakening institutional demand for the asset.
Source: PANews