U.S. spot crypto ETF fund flows showed divergence on Wednesday. Bitcoin spot ETF resumed net inflows, while Ethereum and XRP spot ETF simultaneously turned to net outflows, indicating that institutional funds are more inclined to return to Bitcoin products with stronger liquidity in the short term.
The continuous inflow of ETH and XRP has come to an end.
Ethereum spot ETF has recorded net inflows for 12 consecutive trading days, attracting a total of $1.62 billion. On Wednesday, this category shifted to net outflows of $48.08 million, interrupting this round of capital inflows that lasted for over two weeks.
XRP Spot ETF also ended a streak of 11 consecutive trading days with net inflows, with a net outflow of $7.2 million on Wednesday. Prior to this, the cumulative inflows during this period amounted to approximately $170 million, pushing the historical cumulative net inflows for this category to $1.68 billion.
Bitcoin ETF sees a one-day inflow of $100 million
Different from the previous two, Bitcoin spot ETF saw a net inflow of $101.15 million on that day, reversing the net outflow of $236.5 million from the previous day. The latter was also the largest single-day outflow for this category since July 31.
Looking at individual products, IBIT under BlackRock is the main driving force, with a single-day net inflow of $115.45 million. Meanwhile, the grayscale product GBTC still recorded a net outflow of $56.21 million, indicating that funds are continuing to diverge within Bitcoin ETF.
Funds prefer to concentrate again on Bitcoin
Excluding ETH and XRP, Solana spot also recorded a net outflow of $6.13 million on Wednesday. Among the main crypto ETF categories, only Bitcoin maintained a net inflow, reflecting that funds were not withdrawing completely but rather concentrated more towards Bitcoin.
This change is related to the recent market environment. Ethereum and XRP have been attracting funds for several consecutive days, so it is not surprising that there has been a short-term reversal in capital inflows. Against the backdrop of rising interest rate expectations and increased market volatility, institutional funds tend to prefer to return to Bitcoin products that offer greater liquidity and higher acceptance.
August remains a strong month for Bitcoin ETF.
Despite increased short-term volatility, Bitcoin spot ETF still saw a total net inflow of $3.52 billion in August, making it one of the strongest-performing months of 2026. The current total net asset value for this category is approximately $97.22 billion, with a cumulative net inflow of nearly $54.7 billion since its launch in January 2024.
