Ether and XRP ETF inflow streaks end as Bitcoin funds rebound

US-listed spot Ether (ETH) and XRP exchange-traded funds (ETFs) saw their inflow streaks end on Wednesday, as both recorded net outflows. An ETF is a fund that tracks the price of an asset, like a cryptocurrency, and trades on traditional stock exchanges.

Spot Ether ETFs posted $48 million in net outflows, breaking a 12-day streak that had brought in $1.62 billion. Meanwhile, XRP ETFs recorded $7.2 million in outflows, ending an 11-session run that had attracted about $170 million.

Bitcoin ETFs see renewed interest

Bitcoin ETFs moved in the opposite direction, drawing $101.2 million in inflows on Wednesday. This followed a day of $236.5 million in net outflows.

Key numbers

• Ether ETFs: $48 million in outflows after 12 days of inflows totaling $1.62 billion.
• XRP ETFs: $7.2 million in outflows after 11 days of inflows totaling about $170 million.
• Bitcoin ETFs: $101.2 million in inflows on Wednesday.
• Cumulative XRP ETF inflows: about $1.68 billion.

Fund-specific movements

BlackRock’s iShares Ethereum Trust ETF (ETHA) led Ether outflows with $53.4 million, followed by Fidelity Ethereum Fund (FETH) at $26.2 million and Grayscale Ethereum Staking ETF (ETHE) at $23.5 million. BlackRock’s staked Ether ETF (ETHB) partially offset these losses with around $53 million in inflows.

Market context

The shift in ETF flows came as cryptocurrency prices declined over the past seven days. Ether fell 3.4%, XRP dropped 2.4%, and Bitcoin decreased by 1.3%. At the time of reporting, Ether traded at $2,407, XRP at $1.36, and Bitcoin at $77,744.

Sources

• Cointelegraph