U.S. spot bitcoin ETFs lost $131.13 million on Thursday, extending a week of pressure on the funds. The outflows spread across several major products, a sign that the selling isn't confined to one issuer. Ether ETFs, meanwhile, added $6.72 million, and XRP products pulled in $2.25 million.
Redemptions widen
Thursday's numbers mark another rough session for bitcoin funds. The redemptions weren't concentrated in a single fund — they touched multiple major players, which suggests broad-based selling rather than a one-off rebalancing. The week's pressure on bitcoin ETFs has been building, and Thursday's outflow is the latest in that run.
It's a stark contrast to the flows into other digital asset products. Ether ETFs saw net inflows of $6.72 million on the same day, and XRP products drew $2.25 million. The split shows investors rotating within the crypto space, even as they pull back from bitcoin exposure.
Ether and XRP hold up
The ether and XRP numbers are modest but positive. Ether ETFs have been a steady if unspectacular draw this year, and Thursday's $6.72 million inflow fits that pattern. XRP products, which have seen periodic bursts of interest, added $2.25 million.
Neither figure is huge, but in a session where bitcoin funds lost $131 million, the direction matters. Money is moving somewhere, and right now it's not going into bitcoin ETFs.
What's driving the split
The facts don't point to a single catalyst for Thursday's bitcoin outflows. What's clear is that the selling is broad-based and persistent. The week's pressure on bitcoin ETFs has intensified, with redemptions spreading across several major funds.
For now, the trend is the story. Bitcoin funds are bleeding, while ether and XRP products are quietly taking in cash. Whether that rotation continues into next week is the open question.
