On September 2, there was a clear divergence in the flow of funds in the US crypto market. Bitcoin spot continued to attract capital inflows on that day, while products related to Ethereum and XRP and Solana all saw net outflows, indicating that institutional funds are more inclined towards Bitcoin in the short term.
Bitcoin funds continue to flow in
Bitcoin spot ETF had a net inflow of $101.15 million on the day, with total net assets rising to $97.22 billion, and a cumulative net inflow of approximately $54.73 billion. According to the data disclosed in reports, the trading volume for this type of product on that day was about $1.73 billion, which is significantly higher than that of other ETF categories of cryptocurrencies.
- One-day net inflow: $101.15 million
- Total net assets: $97.22 billion
- Cumulative net inflow: $54.73 billion
Ethereum, XRP, and Solana are all flowing out.
Ethereum had a net outflow of $48.08 million on that day, but its capital flow over the past 30 days remained positive, reaching $1.83 billion, with a cumulative net inflow of about $13.03 billion. This indicates that although short-term redemptions have occurred, they have not yet changed the overall capital accumulation from a previous period.
The outflow scale of XRP ETF is even larger. A total of 5 XRP ETF products had a net outflow of 57.2 million US dollars, but their cumulative net inflow was still approximately 1.68 billion US dollars, with a net inflow of about 165.22 million US dollars in the past 30 days.
Solana ETF had a net outflow of $6.13 million on that day. Over the past 30 days, there has been a net inflow of approximately $197.6 million, with a cumulative net inflow of about $1.34 billion.
Short-term preference shifting towards Bitcoin
From this set of data, it appears that funds have not withdrawn entirely from ETF, but rather there has been a more noticeable internal shift. Bitcoin has once again gained the strongest institutional support in a single day, while altcoins ETF are facing phased redemption pressures.
The report also mentioned that XRP fell back to around $1.36 after reaching nearly $1.70 in August, and the market is now watching its subsequent support performance. The price decline coincided with the outflow of funds from ETF, which also reflects that some funds are becoming more cautious in the short term.
Overall, although the altcoin ETF has shown weakness on a single-day basis, its capital flow over the past 30 days has remained positive, indicating that the medium-term demand for investment has not yet completely reversed. In contrast, Bitcoin continues to serve as the main destination for institutional funds at this stage.
