- Bitcoin exchange-traded funds (ETFs) experienced net outflows amounting to $60.48 million on December 8.
- Ethereum ETFs displayed a positive trajectory with inflows totaling $35.49 million.
- XRP and Solana ETFs reported gains amidst a growing demand landscape.
The cryptocurrency market remains in a state of volatility as stakeholders await the imminent Federal Reserve interest rate decision scheduled for December 10. The performance of crypto ETFs has become an essential barometer for assessing institutional interest in these high-risk assets, underscoring the prevailing uncertainty within the sector.
Bitcoin ETFs Face Significant Outflows Despite IBIT’s Positive Reception
The sentiment surrounding Bitcoin ETFs turned decidedly negative on December 8, with notable net outflows recorded at $60.48 million, as per SoSoValue data. This pronounced withdrawal of capital is a direct response to the lackluster performance exhibited by the broader cryptocurrency market over the preceding weekend.
Bitcoin’s inability to surpass the $92,000 threshold has contributed to this trend, with the digital asset currently trading at approximately $90,150. However, not all Bitcoin ETF issuers faced adversity on this day; BlackRock demonstrated resilience through its IBIT product, which successfully attracted inflows amounting to $28.76 million.
Conversely, competing funds such as Grayscale’s GBT and Fidelity’s FBTC reported substantial withdrawals of $44.03 million and $39.44 million, respectively, on December 8. The contrasting performance of IBIT suggests that profit-taking rather than a definitive shift in investor sentiment may be responsible for the mixed inflow trends within the Bitcoin ETF segment.
Ethereum ETFs Experience Positive Momentum
In stark contrast to Bitcoin’s struggles, Ethereum ETFs exhibited a robust resurgence with inflows reaching $35.5 million on December 8. This uptick follows two consecutive sessions marked by significant outflows of $41.5 million on December 4 and $75.2 million on December 5.
Ethereum’s recent Fusaka upgrade, designed to enhance speed, scalability, and reduce transaction costs for Ether-based Layer 2 platforms, has reignited investor interest in this cryptocurrency. The latest inflow data indicates a growing recognition among institutional investors of Ethereum’s potential as a viable asset for portfolio diversification away from Bitcoin.
For instance, BlackRock is currently seeking approval from the SEC for its proposed staked Ether trust ETF—referred to as ETHB—which is poised to track Ethereum’s performance while also incorporating rewards derived from staked Ether investments.
Ethereum is currently valued at approximately $3,124, reflecting an increase of more than 10% over the past week—a trend indicative of renewed institutional interest.
Solana ETFs Maintain Steady Demand
Solana spot products concluded the previous trading day with modest inflows of $1.2 million. While this figure may appear minor in isolation, it nonetheless signifies consistent demand for Solana ETFs amidst a broader market tumult.
The recent inflows extend Solana’s winning streak to three consecutive days, illustrating an unwavering appetite for these financial instruments despite prevailing market challenges. Since their launch in late October, Solana exchange-traded funds have collectively attracted approximately $639 million in investments.
The current price of SOL stands at around $133, marking a decline of 2% within the last 24 hours.
XRP ETFs Dominate the Performance Landscape
On December 8, Ripple’s cryptocurrency emerged as a standout performer with net inflows totaling $38.04 million—far surpassing those of its competitors on that day. Grayscale’s GXRP led this charge by attracting over $810K in new capital.
Other prominent players such as Canary, Bitwise, and Franklin also recorded significant daily gains within their XRP exchange-traded funds. Regulatory clarity surrounding XRP’s status combined with its practical utility in facilitating cross-border transactions has markedly enhanced its attractiveness to institutional investors.
The ETF performance metrics from December 8 convey a critical message regarding evolving investor behavior; stakeholders are increasingly diversifying their portfolios beyond Bitcoin into alternative cryptocurrencies. The growing traction of altcoin ETFs underscores their appeal and advantages as acceptance of cryptocurrencies continues to burgeon within mainstream finance.
