Bitwise Rotates Nearly $12M Out of XRP ETF and Into Bitcoin, Ethereum Funds

U.S. spot crypto ETFs saw fresh money flow into Bitcoin and Ethereum on Wednesday, while spot XRP ETFs recorded their first net outflow in nearly a month. Bitwise was the clear outlier, posting the day's only XRP ETF redemption while adding assets to its Bitcoin and Ethereum products. XRP ETFs log first outflow since July Spot XRP ETFs posted net outflows of $3.58 million on Aug. 5, the first negative day since July 8 after a run that was largely supported by daily inflows. The entire withdrawal came from the Bitwise XRP ETF; all other U.S. spot XRP ETFs reported flat flows. Even with the pullback, demand has remained resilient. Cumulative net inflows for spot XRP ETFs stand at $1.51 billion, while total assets under management are $993.38 million. By cumulative inflows, Bitwise leads with $507.33 million, followed by Canary at $468.12 million and Franklin at $425.97 million. Bitcoin ETFs extend winning streak Spot Bitcoin ETFs recorded $244.42 million in net inflows, marking a third consecutive positive session. BlackRock's iShares Bitcoin Trust led with $196.83 million, lifting its cumulative net inflows to $60.96 billion. Other notable inflows: - ARK & 21Shares (ARKB): $37.63 million - Fidelity FBTC: $11.28 million (cumulative inflows now $9.98 billion) - Bitwise BITB: $10.56 million - Morgan Stanley ETF: $2.79 million VanEck was the only fund with a meaningful outflow, shedding $14.67 million; the rest were unchanged. The latest addition follows $211.49 million on Aug. 4 and about $170 million on Aug. 3, reversing the $265.37 million in withdrawals seen on July 31. Week to date, Bitcoin ETFs have taken in roughly $626 million. Total assets in U.S. spot Bitcoin ETFs stand at $79.21 billion. Ethereum ETFs stay positive Spot Ethereum ETFs also remained in the green, bringing in $60.86 million for a second straight day. BlackRock's ETHA led with $50.34 million, while ETHB added $4.94 million. Additional inflows included: - Fidelity Ethereum ETF: $2.87 million - Bitwise Ethereum ETF: $1.37 million The steady demand points to continued institutional interest in Ethereum even as investors rotate between crypto ETF exposures. Bitwise shift highlights rotation from XRP Bitwise posted the session's only XRP ETF outflow, while its Bitcoin ETF drew $10.56 million and its Ethereum ETF gained $1.37 million. Combined, the Bitcoin and Ethereum funds added nearly $12 million, suggesting a rotation out of XRP and into the two largest crypto assets. Crypto prices rebound The ETF flows came as major tokens recovered. Bitcoin traded near $64,830, up 1.2% over 24 hours and about 3% over the past month. Ethereum was around $1,911, up 2.35% on the day and roughly 8.11% over 30 days. XRP underperformed, falling 1.10% in the past 24 hours to about $1.05 and down 6.24% over the last month. Year to date, XRP is the weakest of the three, down about 43%, versus declines of 26% for Bitcoin and 36% for Ethereum. Disclaimer: This content is informational and should not be considered financial advice. The views expressed may include the author's personal opinions and do not reflect The Crypto Basic's opinion. Readers should conduct their own research before making investment decisions. The Crypto Basic is not responsible for any financial losses.