XRP ETFs Defy Outflows as Bitcoin Drops to $82,000
Spot Bitcoin ETFs lost $244 million in a single day as market liquidations dragged prices down.
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Key takeaways
- Spot Bitcoin funds recorded $244 million in net outflows on Thursday.
- A $1 billion market liquidation pushed Bitcoin back toward $82,000.
- XRP ETFs were the only major products to post net positive inflows.
- Zcash funds extended their streak of October redemptions.
Institutional money walked on Thursday. $244 million left spot Bitcoin ETFs in net outflows while spot prices slid back toward $82,000.
A rough day for major funds
That drop came on the heels of a massive market shakeout. Liquidations wiped out over $1 billion in leveraged trading positions in a single wave, hammering derivatives and spot markets simultaneously.
Bitcoin didn't take the hit alone. Ethereum products caught the cold, too. Meanwhile, Zcash (ZEC) funds kept shedding capital, extending an ongoing streak of October redemptions.
One asset ignored the carnage entirely. Spot XRP ETFs stood as the only products to finish Thursday in the green, pulling in net inflows while everything else bled out.
Why it matters
A $1 billion liquidation cascade flushes out over-leveraged retail traders in minutes. But $244 million exiting Bitcoin ETFs proves institutions are stepping back, too. Without fund inflows, spot markets lose their backstop. XRP's green day tells us capital isn't just fleeing to fiat. Traders are rotating into specific altcoin plays while waiting to see if Bitcoin holds a floor near $82,000.
Source: CoinDesk
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