Solana and XRP spot ETFs see inflows as Bitcoin and Ethereum face combined $520M in outflows

Bitcoin and Ethereum spot ETFs hemorrhaged a combined $520 million on September 16, while Solana and XRP quietly absorbed fresh capital. Bitcoin ETFs shed $295.98 million in net outflows, with Ethereum not far behind at $224.11 million. Meanwhile, XRP ETFs pulled in $3.50 million and Solana ETFs attracted roughly $837,000 in net inflows. The Fed factor The Federal Reserve raised interest rates by 25 basis points on the same day, pushing the target range to 3.75%-4.00%. That move appears to have triggered a risk recalibration among institutional investors holding the two largest crypto ETF products. BlackRock’s IBIT, the dominant Bitcoin ETF by assets, was a primary driver of the outflows. What’s notable is that spot prices for many crypto assets actually ticked up slightly despite the negative ETF flows. Small caps, big signal Franklin Templeton’s XRP product was the primary magnet for the $3.50 million inflow into XRP ETFs. Solana’s $837,000 is modest by any measure, but it’s the direction that matters when the two largest crypto ETFs are bleeding capital. The cumulative numbers provide useful context for sizing up these products. Bitcoin ETFs have accumulated $54.57 billion in ne...