XRP and Solana ETFs thrive as over $4B in Bitcoin and Ethereum exits the market
New XRP and Solana ETFs attracted over $500 million in inflows while Bitcoin and Ethereum ETFs saw combined outflows exceeding $4 billion.Summary
A significant divergence is occurring in the crypto ETF market, where newly launched spot Solana and XRP ETFs are attracting substantial capital, contrasting sharply with major outflows from established Bitcoin and Ethereum funds. Solana ETFs accumulated $382.05 million in three weeks, and the new XRP ETF by Canary Capital saw $250 million in first-day trading volume, setting a record for day-one volume among over 900 ETF launches this year. This enthusiasm for altcoin funds is juxtaposed against US spot Bitcoin ETFs experiencing over $3 billion in net outflows and Ethereum ETFs shedding more than $1.2 billion during the same three-week period ending November 14, totaling $4.2 billion in combined exits. Analysts suggest these outflows are linked to monetary policy uncertainty and whale selling activity, with BlackRock's funds accounting for about 50% of the redemptions, despite showing long-term institutional interest.
(Source：CryptoSlate)