Bitcoin and Ethereum ETFs Soar as Investors Flee XRP

Spot Bitcoin and Ethereum ETFs in the US saw significant inflows on Wednesday, totaling $244.42 million and $60.86 million respectively. The influx of capital into these funds is a continuation of their recent trend, with Bitcoin ETFs having attracted over $626 million this week alone.

The largest contributor to the Bitcoin ETF inflows was BlackRock's iShares Bitcoin Trust, which recorded $196.83 million in new investments. Its cumulative net inflows have now reached $60.96 billion, solidifying its position as a leader among Bitcoin ETFs.

Meanwhile, Bitwise posted an outflow of $3.58 million from its XRP ETF, marking the first negative flow since July 8 and ending a streak of mostly positive daily inflows. This move suggests investors may be shifting their capital towards other cryptocurrencies, such as Bitcoin and Ethereum.