Key Takeaways
- Bitcoin ETFs lost $120.24M on Wednesday, extending outflows to a second straight session.
- Ether, XRP, and solana funds gained as investors rotated away from bitcoin into altcoin exposure.
- Bitwise expects stronger Q4 ETF inflows as institutions widen crypto allocations.
ARK Leads Outflows for Bitcoin ETFs
The money kept moving, just not in bitcoin’s direction.
U.S. spot bitcoin exchange-traded funds (ETFs) recorded another day of redemptions as several of the market’s largest funds saw capital leave. Ark & 21Shares’ ARKB led the selling with a $77.98 million outflow.
Grayscale’s GBTC lost $27.22 million, while Blackrock’s IBIT shed $19.53 million. Morgan Stanley’s MSBT attracted $4.49 million, providing the day’s only meaningful offset. Trading value across bitcoin ETFs reached $2.05 billion, while net assets closed at $99.33 billion.
The latest flows arrive as bitcoin’s price remains close to an important institutional threshold. Glassnode data shows U.S. spot bitcoin ETFs have recovered toward break-even after an $18 billion drawdown, placing the institutional cost basis back in focus as a potential resistance zone.
Ether Turns Higher With Clean Inflows
Ether ETFs moved firmly into positive territory with $34.75 million in net inflows.
Blackrock’s staking ether ETF, ETHB, led the group with $22.94 million. Blackrock’s ETHA added $9.71 million, while 21Shares’ TETH brought in another $2.10 million.
No major outflows were recorded, as trading activity reached $852.09 million, while net assets ended the session at $15.69 billion.
XRP and Solana Extend Their Gains
XRP ETFs continued their run of positive flows, adding $12.29 million.
Bitwise’s XRP fund attracted $9.30 million, while Grayscale’s GXRP added $2.98 million. Total trading value reached $23.58 million, with net assets closing at $1.51 billion. Steady demand for XRP ETFs, with 30D net inflows hitting $185 million, gives traders another signal to watch alongside XRP’s price, currently trading near $1.40.
Solana ETFs also finished higher, drawing $11.73 million. Bitwise’s BSOL accounted for $11.18 million, while Morgan Stanley’s MSOL added $558,150. Net assets closed at $1.44 billion.
HYPE Slips as Institutions Look Toward Q4
HYPE ETFs moved lower, recording $5.29 million in net outflows, all from Bitwise’s BHYP. Trading activity reached $31.08 million, while net assets closed at $464.29 million.
The mixed daily picture comes as institutional expectations remain upbeat.
Bitwise Chief Investment Officer Matt Hougan said he expects the fourth quarter to bring major ETF inflows as more investors gain approval to allocate to digital assets. Speaking in an interview on the Wolf of All Streets podcast, he commented:
I think Q4 is going to be an enormous quarter for ETF inflows. Broadly, bitcoin, stablecoins, tokenization, we’re going to see billions of dollars of flows into ETFs behind those themes.
For now, Wednesday’s flows show a market becoming more selective, with capital rotating toward ether, XRP, and solana while bitcoin absorbs a second day of redemptions.
