Bitwise Shifts $12M from XRP to Bitcoin and Ethereum

The U.S. spot crypto ETF market saw fresh capital pouring into Bitcoin and Ethereum funds on Wednesday, while XRP-based funds recorded their first day of outflows in a month.

Bitwise stood out during the session as the only fund to post an outflow from its XRP holdings, totaling $3.58 million. This marked the first negative flow for XRP ETFs since July 8, ending a streak of mostly positive daily inflows.

Despite this outflow, investor demand remains strong in the XRP market, with spot XRP ETFs attracting cumulative net inflows of $1.51 billion. Bitwise remains the largest XRP ETF issuer by cumulative inflows, holding $507.33 million.

In contrast, Bitcoin and Ethereum funds continued to attract fresh capital, with spot Bitcoin ETFs recording $244.42 million in net inflows on Wednesday, marking their third straight day of positive flows. BlackRock's iShares Bitcoin Trust led the market with $196.83 million in new investments, bringing its cumulative net inflows to $60.96 billion.

Spot Ethereum ETFs also remained in positive territory, recording $60.86 million in net inflows for a second straight day. Bitwise's Ethereum ETF added $1.37 million to its holdings during this time.