U.S.-listed spot Bitcoin exchange-traded funds have started the week with positive inflows and broke last week’s two-day outflows streak, while exchange-traded funds tracking other major altcoins, such as Ethereum, XRP, and Solana, saw outflows on Monday, even as the underlying cryptos posted gains in spot markets.
According to SoSoValue data, spot Bitcoin ETFs pulled in $167.03 million on Monday, and the cumulative total net inflow stands at $55.54 billion. As the inflows were led by iShares Bitcoin Trust(IBIT) with $109.31 million.
Then, Fidelity Wise Origin Bitcoin Fund (FBTC) with $60.09 million, and VanEck Bitcoin ETF(HODL) with $4.87 million. Meanwhile, Bitwise and Ark & 21Shares together posted $7.23 million in outflows, and other funds showed no movement.
Altcoin ETFs Fall for Third Day as Prices Rise
While U.S.-Based spot Ethereum ETFs recorded $51.32 million in outflows, with BlackRock’s iShares Ethereum Trust (ETHA) and Grayscale Ethereum Trust (ETHE) leading the way. Even though Fidelity and 21Shares ETFs saw slight inflows, the bigger withdrawals from the major funds offset these gains. While no other funds changed.
Whereas, spot XRP ETFs and spot Solana ETFs also saw outflows of $18.11 million and $2.48 million, respectively. So the demand on altcoin liked ETFs was weaker compared to Bitcoin ETFs. Also, these altcoin ETFs have been experiencing outflows over the past three trading sessions.
Among XRP ETFs, all funds experienced outflows, with the exception of the Canary XRP ETF (XRPC), which remained flat. For Solana ETFs, withdrawals occurred only in Fidelity and VanEck funds, while all other Solana ETFs showed no change.
Spot trading showed an overall gain over the previous day despite outflows in altcoin ETFs. While writing the article, Bitcoin traded at $70,433, up 3.8%, while Ethereum reached $2,055, rising 2.99%. Then, XRP and Solana also gained, trading at $1.38 and $86.45, respectively, with increases ranging between 2% and 4%, as per CoinMarketCap.
