Institutional Bitcoin and Ether ETF Outflows Surge as Altcoins Gain Ground
- Bitcoin ETFs experienced net outflows of $331.05 million, with Blackrock’s IBIT losing $325.58 million.
- Ether ETFs saw a $62.30 million outflow, marking a seven-day decline led by Blackrock’s ETHA.
- Solana ETFs gained $3.78 million in inflows, primarily through Fidelity’s FSOL.
- XRP ETFs attracted $1.48 million in net inflows, all into Franklin’s XRPZ product.
The retreat from major crypto exchange-traded funds (ETFs) continues as institutional investors pull capital from bitcoin and ether products at an aggressive pace while smaller alternative asset funds like Solana and XRP quietly attract new investments.
Despite the significant withdrawals from major crypto assets like bitcoin and ether, altcoin interest remains resilient with Solana and XRP recording positive inflows, highlighting a shift in investor focus towards infrastructure growth and ecosystem expansion opportunities within the crypto market.
