Key Highlights
- SOL and XRP ETFs see steady inflows as Bitcoin and Ethereum funds experience outflows, showing shifting investor interest toward altcoins.
- Despite daily outflows, Bitcoin and Ethereum ETFs still hold significant assets, highlighting long-term investor commitment to major cryptocurrencies.
- New ETFs from Canary and Grayscale expand regulated crypto access, offering investors exposure to altcoins and infrastructure tokens like Chainlink.
While Bitcoin and Ethereum exchange-traded funds (ETFs) continue to see outflows, investor interest is slowly shifting towards newcomer Solana and XRP ETFs. As of December 4, Solana-based exchange-traded funds attracted a net inflow of $4.59 million, with their cumulative inflows reaching $623.21 million since their inception.
As per the SoSoValue dashboard, trading volume for Solana ETFs stood at $42.39 million in the last trading session, while having $910.07 million in total assets, accounting for 1.16% of SOL’s total market capitalization.
Bitwise’s BSOL led the Solana ETF market, with total assets of $672.40 million. The fund saw daily inflows of $734.66K to push cumulative inflows to $580.72 million and a market share of 0.86% of the circulating SOL. Grayscale’s GSOL came in second with $161.77 million in assets and net inflows of $1.54 million for the day to bring the total inflows since creation to $89.01 million.
Fidelity’s FSOL saw inflows of $2.05 million on the day, bringing its total assets to $47.08 million, while VanEck’s VSOL was flat at $18.12 million and 21Shares’ TSOL had a significant net outflow of $101.51 million, taking its total assets down to $6.16 million.
XRP ETFs show strong investor interest
Solana is not alone on the inflow side; XRP ETFs also saw healthy inflows. SoSoValue data indicated a daily net inflow of $12.84 million to lift the total inflows to $887.12 million. The total traded value stood at $26.17 million, with net assets reaching $881.25 million, which accounted for 0.69% of XRP’s market cap.
Canary’s XRCP ETF remained dominant with $342.02 million in assets, adding $1.34 million for the day and $358.88 million cumulatively. The fund’s price was down 4.18% during the session, with $329.3K in trading volume. Grayscale’s GXRP had assets reaching $219.09 million, up $2.04 million every day and $211.07 million cumulatively. Bitwise’s XRP fund registered $90.26 million, buoyed by daily inflows of $3.76 million.
Franklin’s XRPZ added $5.70 million in daily inflows and reached a total of $29.88 million in assets even though it fell 3.75% during the day. Trading volumes were strong across all the XRP ETFs, underlining consistent market demand.
BTC and ETH ETFs face outflows
Conversely, Bitcoin ETFs saw major outflows of –$194.64 million on December 4. However, the total is still at a high of $57.56 billion. BlackRock’s IBIT remained the largest position with $71.54 billion in AUM, despite a $112.96 million outflow on the same day.
The Fidelity FBTC ETF saw -$54.20 million daily, and the Grayscale GBTC recorded -$10.13 million. Cumulatively, the total net assets of Bitcoin ETFs reached $120.68 billion, accounting for 6.54% of BTC’s market cap.
Ethereum ETFs had daily outflows of –$41.57 million, while their cumulative inflows stood at $12.95 billion. BlackRock’s ETHA held $11.49 billion in net assets and gained $28.35 million for the day.
Market data also shows Grayscale’s ETHE ETF saw $30.96 million leave, and Fidelity’s FETH had $17.92 million in outflows. Even with these withdrawals, Ethereum ETFs still held $19.64 billion in total, or about 5% of Ethereum’s overall market value.
ETF expansion highlights broader market access
Recently, Canary Capital launched its XRP (XRPC) and HBAR (HBR) ETFs on Vanguard, allowing regular investors to buy crypto through a regulated fund. Grayscale also introduced the Chainlink Trust ETF (GLNK), the first U.S. ETF for Chainlink, letting investors gain exposure to the network that powers smart contracts and supports DeFi applications.
Bloomberg analyst Eric Balchunas noted on X, “21Shares launched a 2x SUI ETF, first SUI ETF, rare first one is leveraged. This is the 74th crypto ETF this year, 128th overall, with another 80 expected in the next 12 months.” Hence, asset managers are broadening their crypto ETF offerings to diversify beyond Bitcoin and Ethereum.
SOL and XRP ETFs are seeing consistent inflows, while Bitcoin and Ethereum funds experience outflows. This indicates a shift in investor activity and broader participation across different crypto assets.
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