US Spot Bitcoin ETFs Face $283M Daily Drain as XRP Products Pull Inflows
US spot Bitcoin exchange-traded funds recorded $282.56 million in net daily redemptions, while dedicated XRP funds managed to secure modest capital inflows.
Institutional appetite for digital asset investment vehicles exhibited divergent trends on Thursday as net Bitcoin ETF outflows accelerated across major US spot exchange-traded funds, according to data detailed by Bitcoin.com News. Spot Bitcoin products registered a combined single-day net withdrawal of $282.56 million, extending their ongoing redemption streak to three consecutive trading sessions.
The heaviest selling pressure emerged from the ARK 21Shares Bitcoin ETF (ARKB), which led the daily outflows alongside secondary redemptions across rival issuer portfolios. The latest wave of withdrawals pushed the cumulative three-day outflow total for spot Bitcoin funds past $449 million, coinciding with the underlying cryptocurrency fluctuating near the $77,000 threshold.
Capital preservation sentiment also weighed heavily on alternative spot vehicles. Funds tracking spot Ether and spot Solana ended the trading day in negative territory as institutional managers pared back risk allocations across the broader digital asset spectrum amid macroeconomic uncertainty.
Bucking the widespread market downturn, investment products focused on XRP emerged as the sole major fund category to log positive net flows. XRP-dedicated investment vehicles attracted approximately $5.14 million in fresh allocations during the session, demonstrating isolated resilience amidst the institutional sell-off across top-tier crypto assets.
Traders and market analysts are monitoring overall liquidity levels, macroeconomic data releases, and derivatives open interest to determine whether the multi-day ETF outflows signal an extended consolidation phase. Market participants will watch if institutional flows stabilize heading into upcoming weekly trading closes.
Key takeaways
- Spot Bitcoin ETFs logged $282.56 million in single-day net outflows led by ARK's fund.
- The three-day cumulative outflow for Bitcoin investment products climbed past $449 million.
- XRP-focused investment funds defied the broader market trend with $5.14 million in net inflows.