Grayscale Redemptions Drag Down US Crypto ETFs While XRP Draws Rare Inflows

US spot bitcoin ETFs lost about $47 million on Tuesday, with Grayscale’s GBTC alone responsible for $66 million in redemptions, more than offsetting inflows from other issuers including BlackRock, Bitwise, Ark and Morgan Stanley. A similar pattern played out in ether funds, where Grayscale’s two products shed a combined $34 million while Fidelity’s fund gained $10 million, leaving the overall category down roughly $24 million.

XRP Bucks the Trend

XRP ETFs stood out as the only meaningful inflow across the US crypto ETF market, pulling in nearly $2 million on Tuesday. The five XRP products have now accumulated $1.69 billion in total inflows, with $173 million added over the past 30 days alone.

Hyperliquid and Solana Also See Losses

Hyperliquid-linked ETFs lost $13 million while solana funds dipped by less than $1 million. Bitcoin ETF net assets fell back below the $100 billion mark, closing at $99.52 billion after briefly crossing that threshold earlier in the month. Analysts continue to point to the fee gap between Grayscale’s GBTC, which charges 1.50%, and lower cost alternatives like IBIT at 0.25%, as a key driver behind the ongoing redemption pattern.