Grayscale Drives $47M Bitcoin Outflows as XRP Funds Gain $1.55M

Key Takeaways

• U.S. bitcoin ETFs lost $46.65M on Tuesday, while XRP funds alone posted $1.55M in inflows.
• Broad ETF outflows signaled reduced crypto risk appetite after last week’s stronger institutional demand.
• Investors will watch whether the rest of the week produces a bounce back to inflows.

Crypto ETFs Open Short Week With Multiple Selloffs

The first session after the Labor Day holiday brought little appetite for risk across the crypto exchange-traded fund (ETF) market.

Bitcoin ETFs recorded $46.65 million in net outflows, even as several major funds attracted fresh capital. Bitwise’s BITB added $14.47 million, Blackrock’s IBIT brought in $10.66 million, Ark & 21Shares’ ARKB gained $8.06 million, and Morgan Stanley’s MSBT added $7.41 million.

Those inflows were overwhelmed by redemptions elsewhere. Grayscale’s GBTC lost $65.51 million, Fidelity’s FBTC shed $17.05 million, and Invesco’s BTCO posted a $4.68 million outflow.

Daily trading value reached $2.41 billion, while net assets closed at $99.52 billion. The flows add another layer of pressure for traders watching the correlation between ETF flows and bitcoin’s price after last week’s strong institutional demand.

Ether Funds Join the Pullback