XRP spot ETF saw capital outflows on its first day of listing. According to flow data, net outflows for the day were approximately $40.8 million, with the TOXR fund under 21Shares experiencing the largest redemption scale — $47.25 million, corresponding to the exit of approximately 21.66 million XRP. Although there was some inflow rebound on the first day, from a longer-term perspective, the cumulative net inflows of such ETFs remain around $1.2 billion, with total assets under management reaching $1.53 billion. From a market perspective, the first-day capital fluctuations were likely driven by short-term position rebalancing — institutions and large holders adjusting their portfolio structures, which is common in the early stages of newly listed ETFs. Subsequent market movements require continued observation.