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Key data: Ethereum and XRP are seeing inflows into exchange-traded funds amid continued outflows of Bitcoin.
The spot exchange-traded funds in the Ethereum market broke a seven-day streak of outflows, with inflows reaching nearly $85 million on Monday.
Investment flows have seen a noticeable recovery despite the prevailing aversion in the cryptocurrency market, indicating a potential improvement in the performance of institutional investors. Cumulative net flows reached $12.53 billion, while the value of net assets stood at $18.20 billion.
Ethereum Exchange-Traded Fund Statistics.
On the other hand, the XRP-based exchange-traded funds (ETFs) continued their steady cash flows, attracting nearly $44 million on Monday. Since their launch in mid-November, these funds have not experienced any cash outflows. The cumulative net cash inflows amounted to $1.12 billion, while the net asset value reached $1.25 billion.
XRP Exchange-Traded Fund Statistics.
Despite the continuous inflows of exchange-traded funds, XRP is facing a weak derivatives market, with the value of open futures contracts dropping to $3.46 billion on Tuesday from $3.54 billion the previous day. Open trading volume has remained relatively low since mid-October, indicating a lack of confidence among traders in the digital currency's ability to maintain its value.
The open interest on XRP.
Meanwhile, Bitcoin spot exchange-traded funds continued their streak of outflows for the third consecutive day, with nearly $142 million withdrawn on Monday. According to SoSoValue data, the cumulative net inflows reached $57.26 billion, with an average net asset of $115 billion. If the prevailing risk aversion continues, the cost pressure may exceed demand, increasing the likelihood of Bitcoin's price falling to around $80,000.
Bitcoin ETF statistics.