XRP, Solana ETFs See Outflows as Altcoin Demand Remains Weak

Flows into U.S.-listed altcoin spot exchange-traded funds (ETFs) remain sluggish, with fresh outflows in XRP (XRP) and Solana (SOL) products underscoring that a broader recovery in altcoin demand has yet to materialize.

Data compiled by SosoValue for Sunday, March 30 (ET) showed the U.S. XRP spot ETF segment posting a daily net outflow of $2.31 million, reversing a two-session stretch of flat flows. The withdrawal was concentrated in a single product—Grayscale GXRP—which accounted for the entire day’s net outflow, while the other four XRP ETFs were unchanged.

Despite the one-day pullback, the XRP spot ETF cohort still shows $1.21 billion in cumulative net inflows. Total daily trading volume reached $11.17 million, and total net assets stood at $928.5 million, equivalent to roughly 1.14% of XRP’s market capitalization, according to SosoValue.

Solana spot ETFs recorded a larger $6.17 million net outflow, extending a three-session streak of redemptions following net outflows of $1.04 million on March 26 and $7.84 million on March 27 (ET). Similar to the XRP complex, the day’s movement was concentrated in a single fund: Bitwise BSOL, while the remaining seven SOL ETFs were flat.

Across the Solana spot ETF lineup, cumulative net inflows were reported at $979.37 million. Daily trading volume totaled $30 million, and net assets were $801.91 million—about 1.69% of SOL’s market cap—suggesting that while the category remains meaningfully sized, marginal demand has weakened in the near term.

Elsewhere in the altcoin spot ETF market, flows were largely stagnant. Dogecoin (DOGE) spot ETFs were unchanged for the 11th consecutive trading session after the last recorded inflow on March 13 (ET). The DOGE cohort has accumulated $7.64 million in net inflows, with $208,470 in daily volume and $9.10 million in net assets, or around 0.07% of DOGE’s market capitalization.

Chainlink (LINK) spot ETFs also finished flat after taking in funds for two sessions through the prior trading day. The category shows $98.61 million in cumulative net inflows, $1.7 million in daily trading volume, and $87 million in net assets—about 1.42% of LINK’s market cap.

Avalanche (AVAX) spot ETFs extended their stagnation to nine straight sessions of unchanged flows. Cumulative inflows were $9.76 million, with daily volume at $37,410 and net assets at $16.14 million, representing roughly 0.42% of AVAX’s market capitalization.

Several smaller-name products also remained pinned at zero daily flows, reinforcing the broader pattern of investor caution. Canary’s Litecoin spot ETF (LTCC) was flat for an 11th consecutive session, with cumulative inflows of $9.65 million, $244,910 in daily turnover, and $6.11 million in net assets (about 0.15% of Litecoin’s market cap). Canary’s Hedera spot ETF (HBAR) was flat for a ninth straight session, with cumulative inflows of $94.27 million, $348,710 in volume, and $50 million in net assets (around 1.32% of HBAR’s market cap). 21Shares’ Polkadot spot ETF (TDOT) posted its 11th consecutive flat day, with $544,480 in cumulative inflows, $30,920 in daily volume, and $9.7 million in net assets (about 0.47% of Polkadot’s market cap).

Market participants typically view sustained ETF inflows as a proxy for 'institutional demand' and improving 'liquidity conditions'. The latest data, however, point to a market that is still waiting for a decisive catalyst: outflows are appearing in the more actively traded altcoin products, while much of the rest of the segment is stuck in prolonged inactivity. If the pattern persists, it could signal that investors are prioritizing select exposures rather than rotating broadly into higher-beta altcoins.