Yesterday was an exciting day for both the crypto and stock markets. Ultimately, Donald Trump managed to ensure a positive closing, but little of this is reflected in the results of the listed Bitcoin and Ethereum funds. They suffered their biggest losses in months, while XRP funds ended in the green again.
Nearly $1 billion outflow from BTC and ETH
The Bitcoin (BTC) spot Exchange-Traded Funds (ETFs), listed funds that hold Bitcoins and thus track the price, lost $708.7 million yesterday. It is the largest daily outflow since November 20.
Moreover, it is already the third losing day in a row. Last Friday, $394.7 million flowed out of the funds and on Monday the outflow amounted to $479.7 million. In three days, $1,583.1 billion has now disappeared like snow in the sun.
Ethereum (ETH) also did not have the best day on Wall Street. $287 million has disappeared, making it the worst trading day since October 13.
The biggest blow came from BlackRock. The asset manager saw $356.6 million flow out of its Bitcoin fund and another $250.3 million from its Ethereum fund.
Bitcoin failed twice yesterday to break through $90,000 and even fell to its lowest price since December 31 of $87,200. But when Trump announced a framework for a Greenland deal, it quickly recovered to $90,000.
The largest cryptocurrency is still there and that is 0.64 percent higher than 24 hours ago. Ethereum is up 0.94 percent.
XRP and Solana do bring in money
In recent months, even more crypto coins have been listed on the American stock exchange. XRP and Solana (SOL) are by far the largest and most well-known coins and they both posted a positive result yesterday.
Data from SoSoValue shows that the XRP funds raked in $7.16 million and the Solana funds raked in $2.92 million. Hedera’s fund (HBAR) also saw an inflow of $3.31 million.
Furthermore, no significant difference was observed between the inflows and outflows of the Dogecoin (DOGE), Chainlink (LINK) and Litecoin (LTC) funds.
Source: https://newsbit.nl/bitcoin-en-ethereum-etfs-lijden-grootste-verlies-in-maanden-maar-xrp-etfs-herstellen/
