Bitcoin ETFs Pull In $101M as Ethereum, XRP Streaks Snap
Bitcoin investment funds bounced back on Wednesday after suffering their worst daily outflow since July.
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Key takeaways
- Bitcoin spot ETFs recorded $101.15 million in net inflows on Wednesday.
- The influx followed the funds' largest daily exit of capital since July.
- Ethereum and XRP funds snapped 12-day and 11-day winning streaks, respectively.
Spot Bitcoin ETFs pulled in $101.15 million on Wednesday, steadying themselves after the funds endured their worst single-day drawdown since July.
It's a sudden pivot for Bitcoin products. But as institutional buyers returned to the primary crypto asset, capital flowing into rival altcoin funds dried up.
Altcoin Streaks Break
Ethereum investment products snapped a 12-day streak of consecutive daily inflows on Wednesday. XRP funds cooled off too, breaking an 11-session run of positive capital flows during the exact same trading day.
Why it matters
Institutional money moves fast. When traders lock in profits on altcoins like Ether and XRP after extended rallies, that cash routinely cycles straight back into Bitcoin. A $101 million rebound landing immediately after a heavy drawdown proves institutional participants are still aggressively buying dips.
Source: Decrypt
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