Institutional money is flowing into XRP exchange-traded funds at the fastest pace in months, painting a picture of quiet confidence even as the token’s price takes a breather.

US spot XRP ETFs recorded $25.8 million in net inflows on May 11. That’s the highest single-day figure since January 5, and it landed during a stretch where XRP itself was sliding lower. The token was trading around $1.42 on Tuesday, down 3.2% over the prior 24 hours and roughly 6% off its recent high near $1.50.

Franklin Templeton’s XRPZ fund led the charge on May 11, pulling in $13.62 million of that $25.8 million total. That single day pushed XRPZ’s assets to $286.82 million.

Total net assets across all US spot XRP ETFs have now climbed to approximately $1.18 billion.

XRP spot ETFs went two straight weeks without recording a single outflow day. April’s net inflows totaled $71.31 million across the month. Early May continued the trend with $5.39 million on May 5 and $4.36 million on May 8 before the big May 11 print.

XRP’s ETF story sits within a broader trend of traditional finance warming to crypto assets beyond Bitcoin and Ethereum. The approval and launch of spot XRP ETFs in the US represented a significant milestone for Ripple’s associated token, which spent years under a regulatory cloud due to the SEC’s lawsuit against Ripple Labs.

Franklin Templeton’s dominance in the inflow data is also noteworthy. The firm manages over a trillion dollars in total assets across its business.

The $1.18 billion in total XRP ETF assets is still small compared to Bitcoin ETFs, which hold hundreds of billions. Going from zero to over a billion in assets, with accelerating inflows and zero outflow days across a two-week stretch, is the kind of momentum that tends to attract even more capital.

The risk, as always, is that broader market conditions could overwhelm asset-specific flows. If Bitcoin sells off sharply or macro conditions deteriorate, XRP ETF inflows alone won’t be enough to support the price.