American spot XRP exchange-traded funds are closing in on the significant $2 billion mark in assets under management (AUM), after logging fresh net inflows on a day when the token's price fell sharply. The sector has displayed a rare countercyclical trend for the cryptocurrency market: large players aggressively accumulated the token as its price declined locally.

According to data from SoSoValue and XRP Insights, net inflows into spot XRP ETFs totaled $18.04 million on September 23. Notably, capital flowed into the regulated products on a day when the token's price dropped by 5–6%. The data supports the view that institutional investors are focused on building long-term positions, ignoring short-term volatility and using the dip to make large purchases.

Spot ETFs hold the underlying token in custody, giving investors regulated exposure to XRP without directly handling the asset. That structure is also why the flow data draws attention: net inflows translate into additional XRP moved into custodial wallets and out of ready circulation, tying the funds' ledgers directly to the token's available supply.

The day's entire inflow was split between two leading funds:

• Bitwise XRP ETF attracted the lion's share of the funds, with inflows of $11.54 million, bringing the fund's cumulative volume to $649 million.
• Franklin XRP ETF closed the session with $6.50 million in inflows, bringing its total collections to $492 million.

One Step From $2 Billion: The Math Behind the Supply Shortage

Current figures show that the combined AUM of the seven approved U.S. ETFs has reached $1,797.93 million, leaving the sector roughly $200 million shy of the milestone. At the same time, the funds continue to steadily withdraw coins from circulation. At present, 1.141 billion XRP is held in custody to back ETF shares — equivalent to 1.1411% of the token's strictly capped supply of 100 billion. Because that supply is fixed at 100 billion tokens, custodied coins cannot be offset by new issuance, which makes the growing custody share a running tally of how much of the asset now sits behind regulated wrappers.

With daily trading volume of $63.13 million and total cumulative inflows of $1.748 billion, the XRP ETF infrastructure is showing a level stability that comparable Bitcoin and Ethereum funds have lacked in recent weeks. For a market where regulated products have so far centered on Bitcoin and Ethereum, that steady ledger offers a live reading on whether investor access through ETF wrappers extends to alternative digital assets.

The weeks ahead provide clear signposts: whether inflows broaden beyond Bitwise and Franklin — the sector's other five funds went without on September 23 — and how far the custody share climbs above its current 1.1411% of supply.

If inflows continue at the current pace, the psychological $2 billion AUM threshold will officially be crossed in October, as Wall Street firmly solidifies its footprint in the alternative digital asset landscape.

Source: U.Today