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Crypto ETFs Bleed as XRP Funds Extend 13-Week Inflow Streak
- US spot Bitcoin ETFs recorded US$678.9 million in weekly net outflows, while Bitcoin itself fell 3.3% over the week.
- Ethereum ETFs extended their outflow streak to nine days, shedding US$697.4 million, with BlackRock’s ETHA accounting for US$450 million.
- Solana and Zcash ETFs also remained under pressure, with continued net outflows across both products.
- XRP ETFs bucked the broader sell-off with US$11.3 million in weekly net inflows, extending their positive streak to 13 weeks.
It wasn’t a great week for US spot crypto exchange-traded funds (ETFs). Most funds bled heavily, including those tracking major coins, such as Bitcoin (BTC), Ethereum (ETH) and Solana (SOL). Meanwhile, BTC itself is down 3.3% on the weekly timeframe, trading at US$83,675 (AU$119,874) at the time of writing.
ETH, XRP and SOL are also down, with losses of 6.8%, 7.5% and 7.6%, respectively.
Weekly ETF Roundup
Back to the US-traded crypto ETFs, BTC funds lost US$678.9 million (AU$972.2 million) last week, with three days in the red and Wednesday seeing the worst net outflows of US$484.9 million (AU$694.4 million). However, BlackRock’s IBIT – as usual the standout performer – was spared the worst and posted US$1.1 million (AU$1.5 million) in weekly gains amid mixed trading days.
All US Bitcoin ETFs still hold 6.1% of the total supply; that’s 1.28 million BTC out of a total 21 million.
Ethereum ETFs, on the other hand, are facing a nine-day outflow streak, with US$697.4 million (AU$998.7 million) exiting the funds over that period.
Again, it’s BlackRock’s fund that stands out: ETHA had six consecutive days of net outflows and nine days of no net inflows, with 30 September and 1 October recording net-zero flows. In total, US$450 million (AU$644.4 million) left the fund over that period.
Read more: Samsung Brings USDC to 82 Million Galaxy Phones
Solana ETFs are on a five-day negative streak with US$25 million (AU$35.8 million) in net outflows. Hyperliquid (HYPE) has seen more mixed results, with zero-flow days on Wednesday and Friday, while Thursday saw US$9.7 million (AU$13.9 million) leaving the funds. Monday was a red day, with US$2.7 million leaving the HYPE ETFs, while Tuesday saw US$3 million (AU$4.3 million) in net inflows.
For Grayscale’s Zcash ETF ZCSH, the picture is bleaker, with no net inflow days since 23 September. US$108.4 million (AU$155.3 million) has exited the fund over that period.
All the above data is drawn from Farside.co.uk and was updated to include Friday’s figures.
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XRP ETFs Buck Sell-off, Narrowly
The standouts are the XRP ETFs, which have performed against the trend. According to data from Coinglass, the five funds had a net-positive week with US$11.3 million (AU$16.2 million) in net inflows. Three days were zero-flow days, while Tuesday and Thursday saw US$3.1 million (AU$4.4 million) and US$8.2 million (AU$11.7 million) in net inflows, respectively.
That’s now a 13-week streak of net inflows for the XRP ETFs, possibly driven in part by the expanding institutional/treasury narrative and Evernorth’s Nasdaq deal, as reported earlier.
Read also: Crypto ATM Scam Losses Hit $1.5M in Tasmania Despite Nationwide Crackdown
Author
Aaron Feuerstein
Aaron Feuerstein is a freelance writer based in Melbourne. His focus is on decentralised finance and the regulatory space surrounding blockchain. He holds a Master's in Accounting. When he is not studying the latest legal case, he enjoys his time as a modest but eager hobby cook.
