Crypto Funds See Outflows: XRP and Solana ETFs Gain

Crypto funds saw a massive $446 million in outflows last week. The total redemptions since October 10 have now reached $3.2 billion. In the face of the overall market pressure, XRP and Solana ETFs went against the trend and attracted strong inflows. XRP funds were inflowed by $70.2 million over the week, thus extending the gains since the middle of October.

At the same time, Solana products had an additional $7.5 million inflow. Bitcoin and Ethereum products remained to be the major victims of heavy redemptions. During the same period, Bitcoin lost $443 million and Ethereum, $59.3 million. There were differences visible between institutions and regions. For example, U.S. crypto funds dropped the most, $460 million worth of outflows, while Germany was the destination for $35.7 million of inflows over the week. Some U.S., listed ETFs attracted new capital as well.

ProShares was a beneficiary of $26 million addition, and Volatility Shares Trust, $25 million, which indicates that investors have been selectively interested amid the general bearish trend. On the whole, the crypto fund market is still under the pressure of the major assets, however, certain ETFs related to XRP and Solana are a show of strength and investor trust.

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