Cryptocurrency market shifts following recent monetary policy updates and macroeconomic speeches have impacted spot exchange-traded funds, leading to contrasting performances among digital asset investment products.
Spot Bitcoin ETFs Record Losses
According to data from SoSoValue, spot Bitcoin funds experienced significant outflows, losing $236.46 million. This downturn contrasted with inflows seen in alternative cryptocurrency funds, signaling a shift in investor activity at the start of September.
XRP, Ethereum, and Solana Funds Post Inflows
While the market leader struggled, funds tracking alternative cryptocurrencies finished in positive territory. Spot XRP exchange-traded funds led Tuesday's battle by capturing $14.38 million in net inflows, nearly triple their figures from the previous day. XRP-tracking funds have maintained a strong streak, recording only two days with net outflows since July 2 and avoiding a red day since August 5.
Spot Ethereum funds also continued their positive momentum, adding $10.95 million on Tuesday. Ethereum-based financial vehicles have maintained an unbroken green streak dating back to August 11. Meanwhile, Solana ETFs attracted $10.19 million, improving upon their previous performance.
Underlying Token Price Action
Despite the strong performance of its spot ETFs, the underlying XRP token faced downward price pressure. After surging from $1.00 to $1.70 in mid-August, the asset encountered rejection and lost key support levels, dropping below $1.35 following a 6% weekly decline.
