Bitwise Dumps XRP ETF to Invest $12M in Bitcoin and Ethereum ETFs

The U.S. spot crypto ETF market saw Bitcoin and Ethereum ETFs attract fresh capital on Wednesday, while spot XRP ETFs posted their first day of outflows in a month.

Notably, Bitwise stood out during the session. The firm recorded the only XRP ETF outflow while adding to its Bitcoin and Ethereum ETF holdings.

XRP ETFs See First Outflow Since July

Specifically, spot XRP ETFs recorded net outflows of $3.58 million on Aug. 5. It was the first negative flow since July 8, ending a streak of mostly positive daily inflows.

The entire withdrawal came from the Bitwise XRP ETF. Every other U.S. spot XRP ETF reported no net flows for the day.

Despite the outflow, investor demand remains strong. Spot XRP ETFs have attracted cumulative net inflows of $1.51 billion. Total assets under management stand at $993.38 million.

Bitwise remains the largest XRP ETF issuer by cumulative inflows with $507.33 million. It is followed by Canary with $468.12 million and Franklin with $425.97 million.

Bitcoin ETFs Add Another $244M

Meanwhile, spot Bitcoin ETFs recorded $244.42 million in net inflows yesterday, marking their third straight day of positive flows.

BlackRock’s iShares Bitcoin Trust led the market with $196.83 million in new investments. Its cumulative net inflows have now reached $60.96 billion, strengthening its lead among Bitcoin ETFs.

Other inflows included:

• ARK & 21Shares (ARKB): $37.63 million
• Fidelity FBTC: $11.28 million, bringing cumulative inflows to $9.98 billion
• Bitwise BITB: $10.56 million
• Morgan Stanley ETF: $2.79 million

VanEck was the only fund to post a notable outflow, losing $14.67 million. All other funds remained unchanged.

The latest inflow follows gains of $211.49 million on Aug. 4 and about $170 million on Aug. 3. Those inflows reversed the $265.37 million in withdrawals recorded on July 31.

So far this week, Bitcoin ETFs have attracted roughly $626 million in net inflows. U.S. spot Bitcoin ETFs now hold $79.21 billion in assets.

Ethereum ETFs Extend Their Gains

Likewise, spot Ethereum ETFs also remained in positive territory, recording $60.86 million in net inflows for a second straight day. BlackRock’s ETHA led with $50.34 million while its ETHB added another $4.94 million.

Other inflows included:

• Fidelity Ethereum ETF: $2.87 million
• Bitwise Ethereum ETF: $1.37 million

The steady inflows suggest institutional demand for Ethereum remains strong, even as investors rotate capital across crypto ETF products.

Bitwise’s Portfolio Shift Stands Out

While Bitwise posted the day’s only XRP ETF outflow, its Bitcoin ETF attracted $10.56 million, while its Ethereum ETF added $1.37 million. Together, the Bitcoin and Ethereum ETFs brought in nearly $12 million. The contrasting flows suggest investors shifted money from XRP into Bitcoin and Ethereum.

Crypto Prices Recover

The ETF activity came as major cryptocurrencies recovered. Bitcoin traded around $64,830, up 1.2% over the past 24 hours and about 3% over the past month. Ethereum traded at $1,911, gaining 2.35% on the day and roughly 8.11% over the past 30 days.

Meanwhile, XRP lagged behind the two largest cryptocurrencies. It fell 1.10% over the past 24 hours to around $1.05 and is down 6.24% over the past month.

On a year-to-date basis, XRP remains the weakest performer of the three. It is down about 43%, compared with declines of 26% for Bitcoin and 36% for Ethereum.