XRP has started off October on a strong note as its ETFs have recorded a decent influx of fresh capital on October 1, after their performances fell flat at the close of the last month.
While momentum appears to be building again in the XRP ecosystem, latest data from SosoValue shows that XRP saw a fresh influx of capital while Ethereum only saw investors withdraw their funds as the new month began.
XRP flips Ethereum
According to the data, XRP ETFs attracted about $4.07 million in net inflow during their daily trading session on October 1, while Ethereum ETFs posted a net outflow of $55.37 million on the same day.
As such, the data shows a major divergence between the performances of both assets, revealing that XRP ETFs outperformed Ethereum ETFs by about $59.44 million in daily flows at the start of the new month.
While XRP ETFs also recorded $25.87 million in total trading volume on the same day, it signals renewed interest in the asset after their performance slowed in the past week, drawing attention from market analysts.
Franklin takes dominance from Bitwise
Although XRP performed better than Ethereum during their latest trading session, the amount of capital pulled in by XRP funds was pretty low.
While Bitwise and Franklin Templeton attracted about $3.18 million and $4.06 million in new capital respectively, the inflows were partly offset by a $3.18 million outflow from Canary's XRP ETF.
Ethereum, on the other hand, was significantly subdued as it saw investors pull a higher amount of capital from its spot ETFs as October began.
Notably, the asset recorded a $55.37 million net outflow, pushing its cumulative net inflows to $13.84 billion.