Crypto Today: Spot ETF Outflows Leave Bitcoin, Ethereum and XRP Struggling to Stabilise

Crypto market remains under pressure from capital outflows

Bitcoin spot Exchange-Traded Funds (ETFs) shed $95 million on Tuesday, marking a fourth consecutive day of outflows as demand for digital investment products remains subdued. Total withdrawals for the week to Tuesday have reached $296 million.

A modest $1.32 million left Ethereum spot ETFs on Tuesday, taking cumulative inflows to $11.74 billion. According to SoSoValue data, net assets under management average $11.64 billion, highlighting institutional investors’ positive long-term view of the underlying token.

Tuesday brought almost $8 million in withdrawals from XRP spot ETFs, their second consecutive day of outflows. With net assets under management at $1.19 billion, cumulative outflows amount to $1.8 billion.

Across the wider market, the Fear & Greed Index points to muted risk appetite: Wednesday’s reading of 29 remains in Fear territory, compared with 32 a day earlier. Inflationary pressure in the United States (US) is another factor discouraging investors from taking positions. Adding to the pressure on sentiment, CME Group’s FedWatch Tool indicates an increased probability of the Federal Reserve (Fed) raising interest rates in December.