U.S. crypto ETF demand split on September 2: Bitcoin funds pulled in $101.15 million while Ethereum, XRP and Solana products all posted daily net outflows. Altcoin ETFs still hold positive 30-day flows, and XRP is testing a key technical support level near $1.35.
U.S. investor demand for cryptocurrency ETFs divided sharply on September 2, with Bitcoin funds drawing fresh money while Ethereum, XRP and Solana products all recorded daily net outflows. The split suggests investors are treating Bitcoin as the safer bet during a stretch of uncertainty, even as the altcoin funds' longer-term flows remain positive.
Bitcoin ETFs draw fresh inflows
Bitcoin spot ETFs saw net inflows of $101.15 million during the session. As a result, their total net assets rose to $97.22 billion, while cumulative net inflows reached about $54.73 billion. Daily trading volume for Bitcoin ETFs was approximately $1.73 billion, well above any other crypto ETF category.
Ethereum, XRP and Solana ETFs post outflows
Ethereum ETFs saw daily net outflows of $48.08 million, even though they maintained positive 30-day flows of $1.83 billion. Their total inflows still stand at around $13.03 billion, so the latest withdrawal is not as large as the capital accumulated over time.
The five XRP ETF products together recorded outflows of $57.20 million, an even larger daily withdrawal than Ethereum's. Cumulative net inflows are still approximately $1.68 billion, and XRP's 30-day figure remains positive at $165.22 million.
Solana had the biggest single-day outflow of the three, losing $6.13 million over the day. Its longer-term totals are still positive: Solana ETFs have drawn $197.60 million over the past 30 days and roughly $1.34 billion overall.
XRP tests key support level
Some of the hesitancy behind the outflows also shows up in price action. Following its August surge toward $1.70, XRP is currently trading at $1.36, testing its 200-day moving average at $1.35. Holding that level is crucial if XRP is to avoid a correction continuing toward its 20-day EMA at $1.29.
Bitcoin has regained the strongest immediate institutional demand of the group, even as its three biggest rivals moved in the opposite direction on the day.
Source: U.Today
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