Cryptocurrencies remained downbeat on Friday, December 5, with sentiment deteriorating across leading assets.
Meanwhile, the latest ETF flow stats confirm this weakness, with Bitcoin and Ethereum exchange-traded products struggling as new products attracted fresh funds.
BTC ETFs suffer broad-based outflows
Bitcoin’s figures were particularly eye-catching.
BTC spot exchange-traded funds have been crucial in determining institutional interest in digital assets throughout this year.
Market participants now perceive ETF flows as a liquidity anchor amid volatile sessions.
Nevertheless, the December 4 data confirms a notable reversal as spot Bitcoin ETFs collectively logged $194.64 million in net outflows.
Source – SoSoValue
What was more striking was the visible decline in demand for these products. All twelve listed BTC funds recorded zero inflows yesterday.
Such synchronised withdrawals are rare and indicate a significant shift and not just product rotations.
The absence of inflows reflects the defensive bias among most enterprises amid broader turmoil.
Factors like expectations around the Fed’s upcoming meeting, change in risk appetite, and year-end portfolio modifications could contribute to Bitcoin’s outflows.
Also, participants could be rotating to newer altcoin exchange-traded funds, which appear somewhat hot in current markets.
Moreover, developments like a potential Bitcoin dump by Saylor’s MicroStrategy have deteriorated sentiments across the crypto sector.
Bitcoin stayed somewhat muted in the past day, losing 1% to $92,155.
Ethereum ETFs slide
Ethereum spot exchange-traded funds mimicked Bitcoin’s performance on Thursday, with $41.57 million in outflows.
The ETF withdrawals grabbed attention as many anticipated positive sentiments amidst the Fusaka upgrade activation.
Nevertheless, BlackRock’s ETHA stood out with inflows worth $28.35 million, as other Ether funds bled.
Source – SoSoValue
That signals selective trust among investors, as many prefer conservative, large issuers during uncertain periods.
Still, the positive ETHA flows indicate prevailing institutional appetite for Ethereum exposure.
ETH is trading at $3,166 after gaining 5% the past week.
XRP and Solana ETFs post gains
While Bitcoin and Ethereum suffered heavy ETF outflows, XRP and Solana displayed a strong performance at $12.84 million and $4.59 million, respectively.
XRP experiences a surge in enterprise-grade demand amid the renewed narrative of cross-border transactions and real-world payments.
The Ripple team has expanded the altcoin’s role in digital payments, especially after the SEC fight ended.
XRP spot ETFs have drawn over $887 million in total net inflows since the November 14 debut.
Source – SoSoValue
That signals massive demand for the new exchange-traded fund.
Solana saw ETF inflows worth $4.2 million on Thursday.
While modest, the numbers indicate a slight recovery from the previous day’s $32.9 million.
Solana exchange-traded funds have outpaced peers in most sessions since launching.
However, profit-taking and bearish broader markets have seen SOL ETFs underperform recently.
Solana is changing hands at $138 after losing over 3% in the past 24 hours.
Litecoin ETFs posted $4.46 million in daily net inflow on Thursday, while HBAR and Dogecoin products saw muted activity.
The post Crypto ETF flows: Bitcoin bleeds $195M; XRP and Solana hold steady appeared first on Invezz
