ETF Streaks End for Spot Ether and XRP Amid Cryptocurrency Price Decline
The streak of inflows into spot Ether and XRP exchange-traded funds (ETFs) has ended. Over the past 12 trading days, Ether ETFs attracted $1.62 billion in new investments before experiencing $48 million in net outflows on Wednesday.
BlackRock's iShares Ethereum Trust ETF (ETHA) led the way with $53.4 million in withdrawals, while Fidelity's Ethereum Fund (FETH) and Grayscale's Ethereum Staking ETF (ETHE) followed with $26.2 million and $23.5 million in outflows respectively.
The only bright spot for Ether was BlackRock's staked Ether ETF (ETHB), which drew around $53 million in new investments, partially offsetting the losses seen in other funds.
In a similar move, XRP ETFs posted $7.2 million in net outflows on Wednesday, ending an 11-session inflow streak that had brought in about $170 million and lifted cumulative XRP ETF inflows to around $1.68 billion.