XRP ETF Outflows End 13-Week Inflow Streak

XRP funds recorded $1.84 million in net outflows in the week ended Oct. 16, reversing the $11.31 million inflow recorded a week earlier. The withdrawal ended the funds’ 13-week inflow streak, which ran from the week ended July 17 through Oct. 9.

The four crypto investment categories-XRP, Bitcoin, Ethereum and Solana-recorded $575.91 million in combined net outflows for the week. Two-week withdrawals reached about $1.81 billion, although the latest weekly loss was lower than the approximately $1.24 billion recorded a week earlier.

XRP funds’ cumulative net inflows remained about $1.80 billion after the withdrawal. Their net assets fell to $1.47 billion from $1.57 billion a week earlier, reflecting investor withdrawals and changes in XRP’s market price.

Ethereum funds recorded the largest outflow among the four categories, at $319.97 million. The amount represented about 56% of combined weekly withdrawals and extended Ethereum’s outflow streak to three weeks. The funds lost about $1 billion during that period, reducing cumulative net inflows to $12.94 billion.

Ethereum funds’ net assets fell to $14.95 billion from $15.71 billion a week earlier. The change reflected withdrawals and movements in Ether’s price.

Solana funds recorded $25.52 million in outflows, following $24.81 million in withdrawals the previous week. Their two-week losses reached $50.33 million. Cumulative net inflows fell to about $1.56 billion, while net assets declined to $1.62 billion.

Bitcoin funds recorded about $230 million in outflows, down roughly 66% from the previous week’s $681.10 million withdrawal. It was their second consecutive negative week, bringing two-week withdrawals to about $910 million. Cumulative net inflows fell to $56.88 billion, while total net assets declined to $104.29 billion.

Bitcoin has struggled to hold its recovery above $80,000 amid higher U.S. Treasury yields and expectations for tighter Federal Reserve policy. Ten-year Treasury yields recently reached levels last seen in 2002, increasing returns available from interest-bearing assets compared with Bitcoin and gold, which do not generate income.

CryptoQuant analyst Axel Adler reported that Bitcoin funds had recorded two consecutive weeks of net withdrawals. Their 30-trading-day flows remained positive at about 15,400 BTC as of Oct. 16, while weekly outflows eased to about 2,800 BTC.

Ecoinometrics reported that Bitcoin fund inflows and outflows had largely offset one another for nearly three weeks after Bitcoin recovered above $80,000 in late September. The firm linked weaker buying in part to rising Treasury yields and a more restrictive tone from Federal Reserve policymakers. The Federal Reserve’s September interest-rate hike and later meeting minutes added to expectations of tighter policy.