Seven US spot XRP ETFs have locked up roughly 992.5 million tokens and drawn more than $1.4 billion in inflows since launching in November 2025, yet XRP traded between $1.02 and $1.12 through August 2026. Ripple's own monthly escrow releases and a sharp slowdown in fresh ETF buying help explain why the expected supply squeeze hasn't shown up.
Seven US spot XRP ETFs now hold approximately 992.5 million tokens in custody, just under 1% of the 100 billion total XRP supply. Cumulative net inflows have exceeded $1.4 billion since the funds launched in November 2025. Yet XRP spent August 2026 trading in a narrow $1.02 to $1.12 band, indifferent to the money flowing in.
The holdings behind the number
Bitwise leads the group with roughly 296.7 million XRP tokens, followed by Franklin Templeton at approximately 240 million and Canary Capital at around 232 million; Grayscale rounds out the list of prominent issuers. The first month of trading produced zero net outflow days, a streak Bitcoin ETFs didn't manage when they debuted in early 2024, and Goldman Sachs is among the institutional holders that have taken positions.
Why the squeeze hasn't happened
Nearly a billion tokens sounds large, but it's about 0.99% of XRP's 100 billion total supply, a far smaller share than Bitcoin ETFs held of Bitcoin's supply at their peak. If issuers are sourcing XRP from over-the-counter desks or large holders rather than spot exchanges, the buying wouldn't show up as market pressure at all.
Ripple adds to the offset. The company releases 1 billion XRP from escrow on the first of every month, re-locking most of it but letting roughly 300 million tokens enter circulation each month. Fresh ETF demand has also faded: according to 24/7 Wall St., investors put $666.61 million into the funds in November 2025 but just $1.01 million in August 2026.
Institutions keep buying anyway
Institutions are still treating the $1.02 to $1.12 range as an acceptable entry point for long-term positioning, and the absence of net outflows suggests they haven't lost conviction even as the price stays flat. Passage of the CLARITY Act could change the math: JPMorgan and Standard Chartered estimate it could unlock up to $667 million a month in XRP ETF inflows, more than double what Ripple currently releases from escrow each month.
Sources: Crypto Briefing, 24/7 Wall St.
Trading involves risk.
Risk Disclaimer
