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Bitcoin and Ether ETFs are hemorrhaging funds, hitting outflow records. But amidst the red, two altcoin ETFs are blazing a defiant green trail, proving that not all crypto tides flow the same way.
While Bitcoin ETFs bleed, Solana and XRP ETFs defy the market massacre, stubbornly holding onto investor faith. Data from SoSoValue reveals a remarkable streak: zero outflow days since launch. In a sea of red, these altcoin ETFs are beacons of bullish defiance.
Forget drips – Solana and XRP ETFs are seeing a tidal wave! Solana ETFs are nearing half a billion dollars in net inflows, while XRP ETFs aren’t far behind, boasting a cumulative $410 million. The ETF race is ON!
Bitcoin and Ether ETFs are bleeding, enduring one of their worst outflow streaks ever. Yet, a curious counter-narrative is unfolding: while flagship crypto funds hemorrhage value, fledgling ETFs focused on alternative digital assets are quietly attracting steady inflows. Is this a sign that some investors, disillusioned with BTC and ETH volatility, are venturing into the uncharted waters of altcoins, seeking the next big wave? The crypto landscape is shifting, and the smart money might just be leading the charge.
Solana ETF inflows in November. Source: Farside Investors
XRP and Solana ETFs log consistent inflows amid market stress
XRP just entered the ETF arena with a bang! Bitwise Asset Management’s XRP ETF, trading under the aptly chosen ticker “XRP,” stormed onto the scene Thursday, amassing a staggering $105 million on its debut. SoSoValue data confirms: this isn’t just a launch; it’s a statement.
Asset manager Canary’s XRPC added another $12.8 million on Thursday, bringing total inflows to $118 million on the day.
“Even with Bitwise entering the arena, Canary CEO Steven McClurg offered a sporting salute: ‘We’re competitors, sure, but we’re rooting for Bitwise’s launch. A rising tide lifts all boats.'”
Source: Steven McClurg
Canary’s impact on XRP ETF inflows is undeniable, boasting the single largest inflow day for XRPC. A staggering $243 million poured in on November 14th, cementing its influence.
Solana-based ETFs displayed a similar pattern of resilience, recording consistent daily inflows even as the broader markets declined.
Solana ETFs are having a banner week, vacuuming up between $8.26 million and a whopping $55.61 milliondaily. Investors couldn’t get enough, with November 19th witnessing the biggest stampede into SOL-backed funds.
Related: Memecoin market sinks to 2025 low as $5B wiped out in a day
Solana and XRP tokens are in the red despite ETF gains
While SOL and XRP ETFs flaunt gains, the cryptocurrencies they track are struggling, painting a contrasting picture of market performance over the last month.
Solana’s price has taken a tumble, with CoinGecko reporting a 32.5% drop in the last month and a further 10.9% dip in the past week. Currently hovering around $122.94, Solana is trading at a staggering 52.3% discount compared to its price a year ago.
Solana’s 30-day price chart. Source: CoinGecko
Meanwhile, XRP performed similarly recently, declining by 21.2% over the last 30 days and 16.6% over the last week.
But zoom out to the yearly view, and a different picture emerges. CoinGecko reports a 49.9% surge, showcasing a climb to its current $1.86 valuation.
Magazine: Bitcoin whale Metaplanet ‘underwater’ but eyeing more BTC: Asia Express
Thanks for reading ETF altseason? Solana XRP funds buck crypto’s market sell-off
