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