Key points
- XRP, Solana, and Ethereum ETFs experience further outflows
- Despite a weak overall market, Bitcoin funds attracted $5.1 million in inflows.
- BlackRock's Ethereum ETF had a single-day outflow of $44.4 million.
On October 15, U.S.-listed cryptocurrency ETFs showed divergent trends: XRP, Solana, and Ethereum-related products experienced net outflows, while Bitcoin ETFs attracted new inflows.
Bitcoin funds saw a net inflow of approximately $5.1 million, reversing the $261.4 million outflow from the previous trading day. Meanwhile, Ethereum ETFs recorded a net outflow of $60.3 million, marking the second consecutive trading day of capital outflows.
XRP and Solana ETFs experience further outflows
According to CryptoETF Today's XRP tracking data, on October 15, XRP-focused funds recorded a net outflow of approximately $1 million.
Among these, Bitwise’s XRP ETF had redemptions of $3.7 million, partially offset by $2.7 million in inflows into Franklin Templeton’s XRPZ fund.
However, aggregated XRP ETF fund flow data varies regarding the final total. Other trackers report smaller outflows, reflecting differences among institutions in fund coverage and daily fund flow calculation methods.
Despite the latest data showing weak performance, the five funds monitored by CryptoETF Today have collectively seen net inflows of approximately $1.81 billion since their listings.
Solana is facing more sustained selling pressure.
According to Farside Investors, on October 15, Solana ETFs experienced a net outflow of $9.8 million, with Grayscale’s GSOL seeing a $6 million outflow and Bitwise’s BSOL recording a $3.8 million outflow.
Previously, the Solana ETF experienced a single-week outflow of $24.8 million, ending 14 consecutive weeks of inflows.
BlackRock's Ethereum ETF saw $44.4 million in outflows.
Among the four major assets, Ethereum experienced the largest outflow of funds.
According to Farside's Ethereum ETF data, on October 15, U.S. spot Ethereum funds experienced a net outflow of $60.3 million, compared to a net outflow of $129.5 million the previous day.
BlackRock’s iShares Ethereum Trust (ETHA) led outflows with $44.4 million; Grayscale’s ETHE saw additional outflows of $18.3 million. Fidelity’s FETH recorded $2.4 million in inflows, partially offsetting the declines.
Overall, Ethereum ETFs have seen outflows of approximately $189.8 million over two trading days.
Prior to the ongoing redemptions, the market experienced a wave of ETF selling, coinciding with the broader cryptocurrency market's weakness.
However, the cumulative net inflow for U.S. Ethereum ETFs since their launch remains positive, at approximately $13 billion.
This distinction is important because short-term outflows do not necessarily indicate a reversal in the broader trend of institutional adoption of Ethereum investment products.
Bitcoin ETFs resume net inflows
In the most recent trading day, Bitcoin funds demonstrated greater resilience, though the rebound was limited.
According to Farside Investors data, on October 15, BlackRock’s IBIT attracted $16.8 million in inflows, offsetting outflows of $7.6 million from Grayscale Bitcoin Mini Trust and $4.1 million from Invesco Galaxy’s BTCO.
Ultimately, the total net inflow into Bitcoin ETFs amounted to just $5.1 million.
This improvement occurred after the large outflow on October 14, when Bitcoin ETFs saw outflows of up to $261.4 million, led primarily by Fidelity’s FBTC and BlackRock’s IBIT.
Do investors prefer Bitcoin over altcoins?
Latest data shows that investment products linked to Bitcoin attracted more demand in a single trading day than major altcoin ETFs.
However, from a broader weekly perspective, the overall trend remains weak. Between October 12 and 15, Bitcoin ETFs experienced cumulative outflows of approximately $146 million, while Ethereum funds saw outflows of about $250 million.
This limits the significance of Bitcoin's latest daily net inflow.
Additionally, there is no direct evidence that funds withdrawn from XRP, Ethereum, or Solana funds subsequently flowed into Bitcoin ETFs.