Bitcoin (BTC) saw $100 million inflow... Altcoin ETFs, one after another, 'net outflow'

▲ Bitcoin (BTC), Altcoin / ChatGPT generated image

Over $100 million flowed into Bitcoin (Bitcoin, BTC) spot ETFs. Altcoin spot ETFs, on the other hand, all turned to net outflows.

According to U.Today on September 3 (local time), a net inflow of $101.15 million entered US Bitcoin spot ETFs on September 2. The total net asset increased to $97.22 billion, and the cumulative net inflow recorded approximately $54.73 billion. The daily trading volume also significantly surpassed other cryptocurrency spot ETFs, reaching approximately $1.73 billion.

$48.08 million flowed out of Ethereum (Ethereum, ETH) spot ETFs. However, based on the last 30 days, it maintained a net inflow of $1.83 billion. The cumulative net inflow since launch was also tallied at approximately $13.03 billion. Despite the daily fund outflow, the medium-term fund flow is still in a net inflow state.

XRP (XRP) spot ETFs also could not avoid selling pressure. $57.20 million was net outflowed from five XRP spot ETFs in one day. The cumulative net inflow is approximately $1.68 billion. Based on the last 30 days, it has recorded a net inflow of $165.22 million.

$6.13 million was net outflowed from Solana (Solana, SOL) spot ETFs. Over the last 30 days, $197.60 million flowed in, and the cumulative net inflow is approximately $1.34 billion. Unlike Bitcoin, Ethereum, XRP, and Solana all experienced fund outflows on the same day, but the trend over the last 30 days remained positive.

U.Today interpreted this fund flow not as a decline in cryptocurrency ETF investment itself, but rather as a concentration of demand towards Bitcoin. While over $100 million in new funds entered Bitcoin spot ETFs in one day, major altcoin spot ETFs simultaneously recorded net outflows. The media's analysis is that the short-term institutional demand has shifted its focus towards Bitcoin.

[Article Key Summary]

-Bitcoin spot ETFs saw a net inflow of $101.15 million in one day, increasing total net assets to $97.22 billion.

-Ethereum, XRP, and Solana spot ETFs experienced net outflows of $48.08 million, $57.20 million, and $6.13 million, respectively.

-While the 30-day fund flow for altcoin spot ETFs remains a net inflow, short-term institutional demand has concentrated on Bitcoin.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*