Bitcoin ETFs Recover as Ethereum and XRP See Outflows
- Spot Ethereum ETFs experienced $48.08 million in net outflows, ending a streak of $1.62 billion in inflows over the past 12 days.
- Spot XRP ETFs saw $7.2 million in outflows, breaking an inflow streak that had accumulated approximately $170 million over the last 11 sessions.
- Bitcoin ETFs rebounded with $101.15 million in net inflows after a significant outflow of $236.5 million the previous day.
- The largest contributor to Bitcoin’s recovery was BlackRock’s IBIT, which alone pulled in $115.45 million.
Wednesday marked a shift as Bitcoin ETFs gained traction while Ethereum and XRP funds faced withdrawals, highlighting changing investor sentiment towards these assets.
This movement suggests a consolidation into Bitcoin, perceived as a safer asset amid market uncertainties, while other crypto funds like Ethereum and XRP paused their recent growth trends due to profit-taking activities by investors.(Source)
