Crypto Today: Bitcoin, Ethereum, XRP falter despite steady spot ETF inflows

Altcoins, including Ethereum (ETH) and Ripple (XRP), are reflecting Bitcoin’s short-term bearish bias. The largest smart contract token, ETH, holds below $2,500 while Ripple (XRP) tests support provided at $1.40.

Despite the headwinds, market sentiment remains strong, as reflected in the Fear & Greed Index, which holds at 71 in the Greed territory on Monday, down only marginally from 73 the day before. This index reinforces appetite for risk assets; hence steady capital inflows.

US-listed crypto ETFs uphold inflows

Bitcoin spot Exchange-Traded Funds (ETFs) extended their bullish streak, with inflows averaging $987 million last week through Friday. This marks the third consecutive week of inflows, reinforcing risk-on sentiment as institutional traders increasingly seek exposure. SoSoValue data shows cumulative inflows averaging $56 billion, with net assets under management at $101 billion.

US-listed Ethereum spot ETFs also recorded their third straight week of inflows, totaling $218 million through Friday. Cumulative inflows stand at roughly $13 billion, with net assets under management at approximately $16 billion. Steady ETF inflows are needed to absorb selling pressure and provide a tailwind to sustain gains.