- Bitcoin ETFs saw $142.19M in outflows on December 22.
- Ethereum, Solana, and XRP ETFs experienced strong inflows.
- XRP ETF inflows surpassed Solana with $43.89M added.
On December 22, the crypto ETF market witnessed a notable shift. While Bitcoin (BTC) spot ETFs registered significant net outflows of $142.19 million, several leading altcoin ETFs saw fresh inflows. This suggests a growing investor interest in diversifying beyond Bitcoin as the year wraps up.
Ethereum (ETH) spot ETFs led the altcoin pack with $84.59 million in net inflows, reflecting a renewed confidence in ETH’s long-term value. XRP followed closely with $43.89 million, outperforming Solana (SOL), which attracted $7.47 million in new capital.
This flow data points to a changing sentiment in the market, where investors are increasingly betting on altcoins as viable long-term options alongside Bitcoin.
XRP ETF Surprises with Strong Performance
XRP’s ETF inflows came as a surprise to many market watchers. With nearly $44 million added in a single day, XRP outpaced Solana in ETF demand. This strong inflow could be tied to growing optimism around Ripple’s legal clarity in the U.S. and potential institutional adoption.
The move suggests that institutions may be positioning themselves for 2024 by reallocating assets from Bitcoin into promising altcoins like XRP and ETH, both of which are seen as having strong fundamentals and real-world utility.
Ethereum Remains the Top Altcoin ETF Choice
Ethereum continues to dominate the altcoin ETF space, thanks to its robust ecosystem and clear use cases in decentralized finance and NFTs. The $84.59 million net inflow into ETH ETFs on Dec. 22 is a signal that investors still view Ethereum as the primary alternative to Bitcoin.
These ETF flows indicate not just market trends, but also investor expectations heading into the new year. With more spot ETFs expected to launch, especially in the altcoin category, the dynamics of crypto investing may be shifting toward a broader basket approach.
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