by Coinstrooper Crypto Articles
Quick Take
  • Per SoSoValue data, Grayscale’s GBTC saw the maximum outflows of $44.03 million, followed by Fidelity’s FBTC fund, which recorded a $39.44 million in outflows.
  • Meanwhile, the spot Ethereum ETFs logged in a net inflow of $35.5 million yesterday, led by BackRock’s ETHA, which saw $23.7 million inflows.
  • Ripple XRP spot ETFs have attracted more than $900 million in cumulative institutional capital since their launch last month.
  • The move signals capital rotation amid Bitcoin’s turbulence and arbitrage unwind.

What Happened

Ripple XRP spot ETFs have attracted more than $900 million in cumulative institutional capital since their launch last month. The move signals capital rotation amid Bitcoin’s turbulence and arbitrage unwind.

“It is a good starter kit for many investors to gain exposure,” said Dowling, adding that altcoin funds such as Solana and XRP “have promising fundamentals,” pushing the prices to go further.

Market Context

Per CoinMarketCap data, XRP showed a significant surge at the start of December, reaching a peak of $2.20. However, the altcoin has dropped 1.54% to $2.05 over the past 24 hours, signalling bearish momentum. XRP is trading at $2.06 at the time of writing.

Meanwhile, Solana has risen to nearly 5% in the past week, trading at $133.16 at press time.

The post US Spot BTC ETFs Bleed $60.4M as Altcoin Capital Flows Increase appeared first on Cryptonews.

Why It Matters

Speaking about Bitcoin’s long-term outlook, they said that the structural thesis remains firm.

Details

The US spot Bitcoin exchange-traded funds (ETFs) saw a net outflow of $60.48 million on Monday, despite BlackRock’s IBIT fund contributing to a single-day inflow of $28.76 million.

Per SoSoValue data, Grayscale’s GBTC saw the maximum outflows of $44.03 million, followed by Fidelity’s FBTC fund, which recorded a $39.44 million in outflows.

Meanwhile, the spot Ethereum ETFs logged in a net inflow of $35.5 million yesterday, led by BackRock’s ETHA, which saw $23.7 million inflows.

Altcoin ETFs ‘Boom’ – XRP Leads With $935M Inflow Since Debut

Particularly, XRP has the most significant altcoin ETF debut to date, with $38.04 million in a single day inflow from four funds on Monday.

Besides, spot Solana ETFs posted $1.18M net inflows in a single day, solely from Fidelity’s FSOL fund. The altcoin witnessed a cumulative net inflow of $640.06 million, since its debut on October 28.

ETF Trajectory for Next Year

Bitwise Asset Management executive Katherine Dowling told DL News that the crypto ETF sector will continue to boom.

Additionally, Bitfinex analysts view this as a healthy, tactical rebalancing. They told Cryptonews, “the spot ETF channel remains intact.”

“As more large allocators use ETF wrappers as entry points, Bitcoin’s path towards a regulated store-of-value role continues, meaning that future inflows can become deeper and more stable.”