Key facts
- Spot Ethereum ETFs saw $48.08 million in net outflows on Wednesday.
- Spot XRP ETFs recorded $7.2 million in outflows.
- Bitcoin ETFs experienced $101.15 million in net inflows.
- Ethereum ETFs had accumulated $1.62 billion over a 12-day inflow streak.
- XRP ETFs had gathered approximately $170 million over an 11-day inflow streak.
- Bitcoin ETFs saw their largest single-day outflow of $236.5 million on Tuesday.
Spot Ethereum and XRP ETFs saw their winning streaks end on Wednesday, with significant outflows recorded. Ethereum ETFs experienced $48.08 million in net outflows, concluding a 12-day period of positive inflows that had amassed $1.62 billion. XRP ETFs followed suit with $7.2 million in outflows, breaking an 11-session streak that had brought in approximately $170 million.
In contrast, Bitcoin ETFs rebounded, attracting $101.15 million in net inflows. This followed a substantial $236.5 million outflow on Tuesday, the largest since July 31. BlackRock's iShares Ethereum Trust (ETHA) led the outflows for Ethereum ETFs, while Bitwise's XRP fund was the primary driver of XRP ETF withdrawals. For Bitcoin, BlackRock's IBIT fund spearheaded the inflows, more than compensating for outflows from Grayscale's GBTC.
The shift in investor sentiment saw Solana ETFs also posting a $6.13 million outflow. This consolidation of capital into Bitcoin, rather than spreading across digital assets, suggests a preference for the largest and most liquid cryptocurrency. Market observers attribute this trend partly to Bitcoin's status as a perceived safer asset within the crypto ecosystem and the anticipation of potential Federal Reserve rate hikes, which often leads investors to favor Bitcoin's deeper liquidity and longer institutional track record.