Crypto Today: Bitcoin, Ethereum, XRP Edge Higher Despite Returning ETF Outflows

BitcoinWorld

Crypto Today: Bitcoin, Ethereum, XRP Edge Higher Despite Returning ETF Outflows

Bitcoin, Ethereum, and XRP are trading higher today, defying a renewed wave of outflows from digital asset exchange-traded funds (ETFs). As of the latest session, Bitcoin is up 1.2% to $67,840, Ethereum has gained 0.8% to $3,520, and XRP has climbed 1.5% to $0.62, according to CoinMarketCap data.

ETF Outflows Persist but Prices Hold

Data from Farside Investors shows that spot Bitcoin ETFs recorded net outflows of $105 million on Wednesday, following a two-day streak of inflows. Similarly, Ethereum ETFs saw $12 million in outflows, marking their fourth consecutive day of net redemptions. Despite these outflows, prices have remained resilient, suggesting that selling pressure from ETF redemptions is being absorbed by direct market buyers.

Analysts attribute the resilience to growing institutional interest in crypto derivatives and a broader risk-on sentiment in traditional markets. “The ETF outflows are notable, but they are not yet signaling a trend reversal,” said James Butterfill, head of research at CoinShares. “We are seeing strong inflows into futures-based products and stablecoin reserves, which offsets some of the spot outflows.”