Bitcoin, Ethereum ETFs See $1B Outflows As XRP Fund Surges

Spot Bitcoin and Ethereum exchange-traded funds (ETFs) experienced combined outflows exceeding $1 billion on Thursday, according to UK asset manager Farside Investors. The 11 spot Bitcoin ETFs shed nearly $867 million, marking the second-highest outflow total in their 22-month history, while the nine Ethereum funds lost an additional $260 million.

The outflows occurred as digital asset markets weakened, with Bitcoin falling below $98,500, its lowest point in over six months, roughly 20% off its early October record high. Bitcoin further declined below $97,000 later Friday morning. Ethereum and Solana also reached four- and five-month lows.

BlackRock’s iShares Bitcoin Trust (IBIT), the largest spot Bitcoin fund with over $80 billion in assets under management, led the declines with outflows exceeding $260 million. The Fidelity Wise Origin Bitcoin Fund (FBTC) saw more than $119 million in investments depart. IBIT has hemorrhaged over $1 billion in the last 13 trading days, while FBTC has lost more than $681 million.

Contrastingly, the debut of Canary Capital’s spot XRP ETF (XRPC) attracted significant investor interest, generating $58 million in first-day trading volume—the strongest debut for any ETF this year. This far surpassed initial projections from Bloomberg Senior ETF Analyst Eric Balchunas, who anticipated roughly $17 million.

The performance of XRPC also surpassed the Bitwise Solana Staking ETF (BSOL), which launched two weeks ago and has since garnered over $550 million in net inflows, although Thursday’s inflows were a modest $1.5 million. The unexpected flows highlight shifting investor sentiment within the crypto ETF market.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.