XRP, Solana ETFs Extend Inflows as Altcoin Demand Remains Selective

U.S.-listed altcoin spot ETFs saw muted activity in the latest session, with meaningful flow changes limited to a handful of products. Spot ETFs tied to XRP (XRP) and Solana (SOL) extended their streaks of inflows, while funds linked to Hyperliquid (HYPE) posted a net outflow—highlighting a market still largely in a ‘wait-and-see’ posture rather than a broad-based rotation into higher-beta crypto exposure.

In the XRP spot ETF segment, net inflows totaled $5.66 million, marking a second consecutive trading day of gains. The move was concentrated in Franklin’s Franklin XRPZ, the only one of the five listed XRP spot ETF products to record a positive flow for the session. Cumulative net inflows across XRP spot ETFs reached $1.504 billion, while total trading volume came in at $19.16 million. Aggregate net assets stood at $1.06283 billion, representing about 1.49% of XRP’s market capitalization.

Solana spot ETFs also drew fresh capital, posting $5.83 million in net inflows for a second straight day. All of the day’s inflow was attributed to Bitwise’s Bitwise BSOL, the sole gainer among eight Solana spot ETF listings. Cumulative net inflows for Solana spot ETFs rose to $1.14568 billion. Trading volume reached $56.54 million, and total net assets increased to $912.74 million—roughly 2.01% of Solana’s market cap, underlining the segment’s comparatively higher penetration among tracked altcoin spot ETF products.

Dogecoin (DOGE) spot ETFs, which had been effectively flat for 11 consecutive sessions, finally registered a modest net inflow of $345,128. The entirety of that inflow went into Grayscale’s Grayscale GDOG, the only one of three DOGE spot ETF products to see movement on the day. Cumulative net inflows for DOGE spot ETFs reached $12.12 million, with $240,185 in trading volume and total net assets of $10.49 million—about 0.09% of DOGE’s market cap.

Elsewhere, several altcoin spot ETF categories remained stagnant. Chainlink (LINK) spot ETFs extended their flat streak to eight consecutive sessions, with cumulative net inflows of $125.15 million, trading volume of $2.34 million, and net assets of $112.04 million—around 1.72% of LINK’s market cap. Avalanche (AVAX) spot ETFs showed no additional net flows for a 27th straight session; cumulative net inflows were $11.00 million, trading volume was $158,620, and total net assets stood at $32.41 million, equivalent to about 1.14% of AVAX’s market cap.

Hyperliquid-linked spot ETFs diverged from the otherwise steady tone, swinging from flat to a net outflow of $698,038. The drawdown was concentrated entirely in 21Shares’ 21Shares THYP, the only one of three HYPE spot ETF products to record a change. Despite the day’s outflow, cumulative net inflows for HYPE spot ETFs remained substantial at $304.29 million, with $9.62 million in trading volume and total net assets of $306.30 million—about 2.27% of HYPE’s market capitalization.

Flows in several smaller and newer altcoin spot ETF products were mixed but narrow. Canary’s Hedera spot ETF (HBR) reverted to flat after posting an inflow the prior session, with cumulative net inflows at $104.85 million, trading volume of $235,044, and net assets of $48.60 million (about 1.58% of Hedera’s market cap). Canary’s Litecoin spot ETF (LTCC) recorded a $460,336 net inflow after seven sessions of no change; cumulative net inflows were $10.26 million, trading volume was $109,455, and net assets were $5.98 million (about 0.17% of Litecoin’s market cap). 21Shares’ Polkadot spot ETF (TDOT) remained flat for a 29th consecutive session, while VanEck’s BNB ETF (VBNB) extended its flat streak to 26 sessions.

Overall, the latest data suggests demand is still highly selective, with inflows clustering in a small number of issuers and tickers rather than reflecting broad ‘institutional demand’ across the altcoin complex. If sustained, consecutive inflows into XRP and Solana products could signal stabilizing conviction in the more liquid altcoin benchmarks, but the day’s limited breadth indicates the market remains cautious as it gauges the next catalyst for risk appetite.