U.S. spot crypto ETF fund flows diverged on Wednesday. Spot Bitcoin ETFs resumed net inflows, while spot Ethereum and XRP ETFs turned simultaneously to net outflows, indicating that institutional funds are temporarily favoring the more liquid Bitcoin products.
ETH and XRP end consecutive days of inflows
Ether spot ETFs had recorded net inflows for 12 consecutive trading days, accumulating $1.62 billion. On Wednesday, the category turned to a net outflow of $48.08 million, ending this nearly two-week-long streak of capital inflows.
The spot XRP ETF also ended its 11-day streak of net inflows, recording a net outflow of $7.2 million on Wednesday. This round of inflows had previously totaled approximately $170 million, pushing the category’s cumulative net inflows to $1.68 billion.
Bitcoin ETF sees $100 million in net inflows in a single day
Unlike the previous two, Bitcoin spot ETFs recorded a net inflow of $101.15 million today, reversing yesterday’s net outflow of $236.5 million—the largest single-day outflow for this category since July 31.
Looking at individual products, BlackRock’s IBIT was the primary driver, with a net inflow of $115.45 million in a single day. Meanwhile, Grayscale’s GBTC still recorded a net outflow of $56.21 million, indicating that capital continues to diverge within Bitcoin ETFs.
Funds are being reallocated back to Bitcoin.
In addition to ETH and XRP, Solana spot ETFs also recorded a net outflow of $6.1 million on Wednesday. Among major crypto ETF categories, only Bitcoin maintained net inflows, indicating that funds are not being withdrawn en masse but are instead concentrating more heavily in Bitcoin.
This shift is related to recent market conditions. Ethereum and XRP had been attracting significant inflows for several consecutive days, so a short-term pullback is not surprising; amid rising interest rate expectations and increased market volatility, institutional funds typically prioritize returning to Bitcoin products, which offer greater liquidity and broader acceptance.
August remains a strong month for Bitcoin ETFs.
Despite increased short-term volatility, Bitcoin spot ETFs recorded a net inflow of $3.52 billion in August, making it one of the strongest months since 2026. The category's total net assets currently stand at approximately $97.22 billion, with cumulative net inflows nearing $54.7 billion since their launch in January 2024.