Bitwise Shifts $12M from XRP to Bitcoin and Ethereum ETFs

The US spot crypto ETF market saw significant activity on Wednesday, with Bitcoin and Ethereum ETFs attracting fresh capital. Spot XRP ETFs, however, posted their first day of outflows in a month.

Bitwise stood out from the crowd, recording an outflow of $3.58 million from its XRP ETF while adding to its Bitcoin and Ethereum ETF holdings. The firm's Bitcoin ETF attracted $10.56 million, while its Ethereum ETF added $1.37 million, bringing in nearly $12 million.

This contrasting flow suggests investors shifted money from XRP into Bitcoin and Ethereum. Despite the outflow, investor demand for XRP remains strong, with spot XRP ETFs attracting cumulative net inflows of $1.51 billion.