Bitwise pulled money out of its XRP ETF on Wednesday and moved $12 million into Bitcoin and Ethereum funds instead. The move marked the first net outflow for spot XRP ETFs in nearly a month, though the broader crypto fund market kept climbing.
The Numbers Behind the Shift
Spot XRP ETFs saw $3.58 million leave on August 5. All of it came from Bitwise's fund. Every other XRP ETF issuer reported flat flows, meaning Bitwise alone drove the entire outflow. Despite the pullback, XRP ETF momentum remains strong overall. Cumulative inflows have hit $1.51 billion since launch, with total assets sitting at $993.38 million. Bitwise still leads the pack by size, holding $507.33 million in cumulative inflows, followed by Canary at $468.12 million and Franklin at $425.97 million.
Bitcoin ETFs, meanwhile, added $244.42 million in fresh capital yesterday. BlackRock's iShares Bitcoin Trust dominated the day with $196.83 million, pushing its total inflows to $60.96 billion. ARK and 21Shares brought in $37.63 million. Fidelity's FBTC caught $11.28 million. Bitwise's Bitcoin fund pulled $10.56 million. This marks the third consecutive day of inflows into Bitcoin funds. Last week's inflows of $211.49 million on August 4 and roughly $170 million on August 3 reversed a $265.37 million exit on July 31. Bitcoin ETFs now hold $79.21 billion in total assets. This week alone, they've attracted about $626 million.
Ethereum and Market Appetite
Ethereum ETFs also stayed in positive territory, recording $60.86 million in inflows for a second straight day. The recovery across Bitcoin and Ethereum funds shows investors remain willing to deploy capital into major cryptocurrencies despite volatility. VanEck's Bitcoin fund was the only notable loser yesterday, posting a $14.67 million outflow. Morgan Stanley's ETF added just $2.79 million. Most other funds stayed flat.
This article is for information purposes only and should not be considered financial advice or investment guidance.
