Bitcoin ETFs Soar as Altcoin Products See Red
On September 2nd, cryptocurrency exchange-traded funds (ETFs) showed divided investor demand. Bitcoin ETFs saw net inflows of $101.15 million, increasing their total net assets to $97.22 billion and cumulative net inflows to around $54.73 billion.
The daily trading volume for Bitcoin ETFs was approximately $1.73 billion, significantly higher than that of any other category of cryptocurrency ETF.
However, the picture is not as positive for main altcoins. Ethereum ETFs saw daily net outflows of $48.08 million despite maintaining positive 30-day flows of $1.83 billion.
$XRP experienced even greater withdrawals, with five XRP ETF products recording outflows of $57.20 million. Nonetheless, cumulative net inflows for XRP are approximately $1.68 billion, and its 30-day figure remains positive at $165.22 million.