Pressure on Bitcoin ETFs intensified this Thursday as outflows spread to several major funds. New purchases in two products mitigated the blow, although the overall balance remained distinctly negative.
The situation for Ethereum and $XRP was more calm. Both finished the session with net inflows, continuing a trend of selective demand outside of Bitcoin.
Bitcoin Sales Expand in Major Funds
Outflows from Bitcoin ETFs reached $131.13 million during a mixed session. Leading the volume of withdrawals was ARK 21Shares' ARKB with $58.82 million, followed closely by Fidelity's FBTC at $55.12 million. For Fidelity, this marked the second consecutive day of outflows totaling $101 million. Grayscale's GBTC lost $36.29 million.
Bitwise's BITB recorded an outflow of $9.28 million, and Invesco's BTCO saw $7.88 million out. Blackrock's IBIT fund, often a leader in market capital inflows, registered an outflow of $5.74 million. Wisdomtree's BTCW fund lost another $4.02 million.
Two funds attracted capital. Grayscale's Bitcoin Mini Trust added $38.93 million, and Morgan Stanley's MSBT attracted $7.08 million. The total trading volume for Bitcoin ETFs reached $1.24 billion, and total net assets at the end of the day stood at $77.27 billion.
Ethereum and $XRP Find Buyers
Ethereum ETFs attracted $6.72 million, with Grayscale's Ether Mini Trust leading the inflows at $6.47 million. Morgan Stanley's MSSE contributed another $811,330. An outflow of $569,200 from Blackrock's ETHA fund reduced the final total. The trading volume for Ethereum ETFs reached $339.77 million, with end-of-day net assets at $10.57 billion.
ETFs on $XRP also ended the day in positive territory. Bitwise's $XRP fund attracted all of the daily inflow volume at $2.25 million. Trading volume was $7.88 million, and total net assets at the end of the day were $942.25 million.
The inflow into $XRP during the day was accompanied by signs that regulated investments are making their way into traditional bank portfolios. Bank of Montreal disclosed in its latest regulatory filing small positions in the REX-Osprey $XRP ETF and the Proshares Ultra $XRP ETF.
Canada's National Bank also reported investments in Bitwise's $XRP ETF, as well as ownership of Bitcoin products listed on U.S. exchanges.
ETFs on Solana and HYPE recorded no net inflows during the session.
As of Thursday, the main selling pressure fell on Bitcoin, while Ethereum and $XRP continued to attract additional capital. The latest bank reports add another dimension to this picture, demonstrating how crypto-related products are gradually finding a place in the portfolios of established institutional investors.
