Bitcoin ETFs Post Second Straight Outflow as Ether, XRP and Solana Turn Positive

US spot bitcoin ETFs lost about $120 million on Wednesday, marking a second consecutive day of outflows and more than doubling the previous day’s loss. Ark and 21Shares’ ARKB accounted for the majority of the redemptions at $78 million, while Grayscale’s GBTC and BlackRock’s IBIT also saw notable outflows. Morgan Stanley’s fund was the only bitcoin product to take in new money, adding roughly $4 million.

Other Crypto Funds See Renewed Inflows

While bitcoin funds struggled, the rest of the crypto ETF market moved in the opposite direction. Ether funds pulled in nearly $35 million after posting losses the previous day, while XRP and Solana products each attracted around $12 million. Hyperliquid-linked funds were the exception among non-bitcoin products, losing roughly $5 million.

Most Bitcoin Funds Trading Below Asset Value

Nearly every bitcoin ETF traded at a discount to the value of its underlying holdings, with only two funds serving as exceptions. Cumulative bitcoin ETF inflows since launch remain at $55.45 billion despite the recent pullback. Notably, ARKB has swung sharply in recent days, moving from a significant inflow earlier this month to a major outflow just six days later, a pattern that has been driving much of the daily movement across the broader bitcoin ETF complex.