Bitcoin and Ether exchange-traded funds extended their run of outflows to end the week in the red. The global digital assets market too looked clueless as Bitcoin failed to hold over the $90k mark. Investors continued to rotate money towards Solana and XRP. The global crypto market cap surged marginally to remain above $3.02 trillion. Its 24 hour trading volume dipped by 19% to hover around $80.5 billion. Data shows that Bitcoin ETFs posted an outflow of around $104 million on Thursday. This marked a fifth straight day of withdrawals. Bitcoin price is now down by around 7% in the last 7 days. Bitcoin, Ether ETFs extend losing streak Ether ETFs saw money leaving, too. They posted a net outflow of $41.74 million. This extended its losing streak to four consecutive sessions. ETH price has dropped by more than 11% in the past 24 hours to hover around $2,950. As per the data provided by SoSoValue, BlackRock’s iShares Bitcoin Trust accounted for almost all of that figure. IBIT saw $101.62 million leave the fund in a single session. Despite the pullback, IBIT remains the largest Bitcoin ETF by flows. However, its total net inflows stand at around $62.9 billion since launch. Fidelity’s Wise Origin Bitcoin Fund stood in the second spot in the tally of outflows on the day. It saw $1.95 million leave the fund. Its total inflows hover around $11.46 billion. All Bitcoin spot ETFs now hold net assets of about $115.88 billion. This represents around 6.48% of Bitcoin’s total market cap. Bitcoin is trading at an average price of $89,122 at the press time. Ether-linked ETFs are struggling to attract new capital, while ETH is also struggling to keep up in the market. The market is dealing with uncertain selling pressure due to political drama brewing in Washington. The US Senate reportedly suspended sessions. This has delayed progress on a long-awaited crypto market structure bill. Solana, XRP ETFs buck market slump While Bitcoin and Ethe ETFs bled, Solana and XRP-linked funds posted gains. Solana ETFs recorded inflows of about $1.87 million on Jan. 23. However, XRP ETFs recorded $3.43 million in inflows in the same session. Solana failed to hold above $127 after a week of consolidation. SOL witnessed steady selling pressure as the entire market posted red indexes. Data shows that Solana ETFs attracted more than $9 million in net inflows in the last week. Solana ETFs now hold net assets of about $1.08 billion. Their net asset ratio stands near 1.50%. SOL is trading at an average price of $126.85 at the press time. XRP has also benefited from the shift. XRP ETFs recorded more than $3.43 million in inflows. Attention is also turning to new ETF structures. Asset manager Cyber Hornet has filed for an S&P Crypto 10 ETF under the ticker CTX. The product could become the first spot crypto basket linked to an S&P index. According to the filing, Bitcoin would make up about 69% of the portfolio. Ether would account for roughly 14%. XRP would represent about 5%. Other holdings would include Binance Coin at 4% and Solana at 2%. Smaller allocations would go to TRON, Cardano, Bitcoin Cash, Chainlink, and Stellar. Join a premium crypto trading community free for 30 days - normally $100/mo.
