Bitcoin Rebounds as Ethereum and XRP ETFs Break Winning Streaks

Crypto investors have been watching ETF net flows closely as an indicator of market sentiment. According to data from SoSoValue and Decrypt, Bitcoin funds pulled in $101.15 million on Wednesday, reversing Tuesday's $236.5 million outflow.

Bitcoin's rebound was a stark contrast to Ethereum and XRP ETFs, which broke their winning streaks. Ethereum ETFs had logged 12 consecutive days of net inflows, bringing in $1.62 billion before ending with a $48.08 million outflow on Wednesday.

The largest outflow came from BlackRock's iShares Ethereum Trust (ETHA) at $53.4 million, while Fidelity's FETH lost $26.2 million and Grayscale's Ethereum Staking ETF (ETHE) shed $23.5 million. Meanwhile, BlackRock's staked Ethereum ETF, ETHB, absorbed part of the damage with $52.9 million in inflows.

XRP ETFs also posted a smaller outflow, at $7.2 million, after an 11-session streak that brought in about $170 million and cumulative inflows to $1.68 billion. Bitcoin's surge may be linked to macro nerves ahead of the Federal Reserve's rate decision on September 15-16.

The simplest explanation for Bitcoin's popularity is its status as the largest asset in the ecosystem, with deeper liquidity and a longer institutional track record than XRP or Ethereum.