Summary
- It reported that the recent Ethereum ETF outflow trend stopped after 7 days and turned into a net inflow of 84.6 million dollars.
- The XRP ETF has recorded cumulative net inflows of 1.1 billion dollars without a single net outflow since its launch, and inflows are expanding.
- Meanwhile, Dogecoin (DOGE) ETF's trading volume and fund inflows have slowed, and investors are advised to be cautious.
The Ethereum spot exchange-traded fund (ETF) halted the recent outflow trend, while inflows into the XRP ETF expanded noticeably.
According to crypto asset (cryptocurrency) specialist media Cointelegraph on the 23rd, the U.S. Ethereum spot ETF recorded a net inflow of 84.6 million dollars the previous day, reversing a 7-trading-day consecutive outflow trend. On a cumulative basis, Ethereum ETF net inflows were about 12.5 billion dollars.
On the same day, the XRP ETF recorded a net inflow of 43.9 million dollars, representing the largest daily inflow so far this month. The XRP ETF has not experienced any net outflows since its launch, and cumulative net inflows have exceeded 1.1 billion dollars.
Analysts say the XRP ETF's fund flows show a gradual increase in allocation rather than short-term trading. In contrast, the Dogecoin (DOGE) ETF continues to see both trading volume and fund inflows slow.
Meanwhile, last week the global crypto asset ETF market saw net outflows of about 952 million dollars, and selling pressure centered on Bitcoin and Ethereum ETFs was analyzed to have been a contributing factor.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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