Bitcoin Spot ETFs See Record Inflows as XRP ETF Inflows Plummet

Bitcoin spot ETFs took in a record $731 million on September 3, their largest day since January 14. BlackRock's iShares Bitcoin Trust (NASDAQ:IBIT) accounted for $454 million of that total. In contrast, XRP spot ETFs saw inflows fall by 83% from the previous week to just $19 million.

The data suggests money may be rotating out of XRP into Bitcoin. However, despite the decline in XRP ETF inflows, the XRP price rose 39% over the past month against Bitcoin's 23%. Ether spot ETFs also saw a significant drop in inflows, falling by 74%, but still remain positive for the year.

Bitcoin spot ETFs have lost about $1 billion net since January 1, despite three straight weeks of inflows. The funds took in $174.6 million on September 4, less than a quarter of what came in on September 3, and the Bitcoin price fell to $79,700 that day.