Key Highlights:
- Bitcoin (BTC) and Ethereum (ETH) ETFs saw inflows for three consecutive weeks.
- XRP ETFs experienced outflows, whereas SOL ETFs experienced inflows.
- The inflows seem to be shifting back to BTC and ETH ETF products.
The spot ETFs products saw a great inflow last week. This inflow indicates that big investors are very much confident about crypto doing well even though the market is market volatile.
Bitcoin ETFs See Strong Weekly Inflows
For Bitcoin ETFs, the product experienced an inflow of $767 million in net inflows. With this weekly inflow, this has been the third straight week of positive inflow.
According to the data provided by SoSoValue, there has been no outflow since March 9, and this indicates that the demand for Bitcoin exposure that is routed through regulated investment products has increased.
For this week, from March 9 to March 13, the largest single-day inflow was observed on March 10, when about $250.92 million flowed into bitcoin ETFs. As per the data provided by SoSoValue, much of this demand came through funds managed by major asset managers such as BlackRock and Fidelity Investments.
When compared amongst the Bitcoin ETFs, iShares Bitcoin Trust (IBIT) from BlackRock led the weekly inflows by a large margin. The fund recorded $601 million in net inflows last week, pushing its total historical inflows to $63.07 billion and has made IBIT as the dominant Bitcoin ETFs since the launch of the product.
Fidelity’s FBTC, stands at the second spot, which has recorded $148 million in inflows during the week. Its cumulative inflows now stand at $10.99 billion.
Ethereum ETFs Continue Positive Momentum
Spot ETFs linked to Ethereum also saw steady demand from March 9 to March 13. ETH ETFs recorded $161 million in net inflows, which again is the third consecutive week of positive flows.
According to the data provided by SoSoValue, Fidelity’s Ethereum Fund (FETH) led the Ethereum ETF category as it saw $90.17 million in weekly inflows and increased its cumulative total to $2.38 billion.
Second best performer has been Grayscale with its Ethereum Mini trust which recorded $21.01 million in inflows. With all of this, the fund’s total historical inflows now stands at $1.84 billion.
XRP ETFs Face Weekly Outflows
Things seemed to have changed in the past week. Since the launch of XRP ETFs, there have been very few incidents where the ETF product has experienced outflows. This week (from March 9 to March 13), Bitcoin and Ethereum ETFs performed well when compared to XRP ETFs.
According to SoSoValue, the XRP ETFs recorded $28.07 million in net outflows, which means that more money left these funds than entered them. Moreover, this outflow also shows that this has been the second week, where the products have experienced an outflow.
Franklin Templeton’s XRP ETF saw the largest withdrawal of around $7.45 million. Even though there is a drop in the XRP ETF products, the fund still holds about $322 million in total historical inflows.
Bitwise Asset Management’s XRP ETF followed closely with $7.40 million in outflows. However, it still maintains around $370 million in cumulative inflows, showing that overall investor interest in XRP remains present.
Solana ETFs Maintain Steady Growth
Spot ETFs tied to Solana saw inflows but they were not as huge as that of Bitcoin and Ethereum products but they were modest in the last week. The SOL ETFs recorded $10.70 million in net inflows, continuing a steady upward trend.
Bitwise Solana ETF (BSOL) led the category with $14.67 million added during the week. The fund’s total historical inflows have now reached $782 million.
Solana has gained popularity due to its high transaction speeds and low network fees, making it attractive for blockchain-based games, apps, and decentralized platforms.
Final Thoughts
For the past few months, the spotlight was mostly shining on XRP and SOL ETF products as both of these products were riding strong momentum and Bitcoin, Ethereum ETFs were moving a bit slower. Things are now changing as Bitcoin and Ethereum ETFs are suddenly pulling in serious money week after week. This indicates that the interest within these products has increased from big investors.
No doubt that Solana and XRP ETFs are still in the game but the explosive momentum has cooled slightly. If these ETF inflows keep building, the market narrative could slowly shift to BTC and ETH ETF leading the charge again.
Also Read: Bitcoin Reclaims $72K Amid Strong Spot ETF Inflow Streak
