Bitcoin ETFs Gain $167M While Altcoin Funds See Outflows
US Bitcoin ETFs saw $167M in inflows on Monday, while altcoin ETFs experienced continued outflows despite rising token prices.Summary
US spot Bitcoin exchange-traded funds (ETFs) experienced a return to net inflows on Monday, recording $167 million after two days of outflows, coinciding with Bitcoin's price increase towards $70,000. According to SoSoValue data, this reverses the approximately $577 million in outflows observed on Thursday and Friday. However, other crypto-linked ETFs, particularly those focused on Ether (ETH), XRP (XRP), and Solana (SOL), faced selling pressure, with outflows persisting even as the underlying tokens saw price increases of 3-5%. Ether, XRP, and Solana ETFs experienced outflows totaling $51 million, $18 million, and $2.5 million respectively, marking a three-day outflow streak for Ether. Analysts at CryptoQuant suggest that while market stress is building, it hasn't reached capitulation levels, indicating a potential for further price declines before a clear bottom is established.
(Source：Cointelegraph)