Institutional investors did something unusual on June 9. They pulled money out of Bitcoin and Ethereum spot ETFs while simultaneously adding capital to XRP and Solana funds.
The numbers behind the shift
XRP spot ETFs recorded net inflows of roughly $7.44 million on June 9, according to data from SoSoValue and CoinGlass. That pushed cumulative inflows since launch to $1.43 billion, with total net assets sitting around $982 million.
SOL ETFs also attracted fresh capital on the same day. Bitcoin spot ETFs, meanwhile, posted net outflows of approximately $77 million. Ethereum products also saw redemptions.
For context, BTC and ETH spot ETFs have historically amassed tens of billions in cumulative inflows since their respective launches. A single day of $77 million in Bitcoin outflows doesn’t undo that, but it does add to a pattern that’s been building over several weeks of persistent redemptions.
Why money is moving to altcoin ETFs
Bitwise has emerged as a significant fund provider in the SOL and XRP ETF space, while BlackRock remains the dominant player for Bitcoin and Ethereum products.
XRP and SOL ETFs launched after the initial wave of BTC and ETH approvals in 2024, entering the market with the advantage of a proven regulatory template.
What this means for investors
The growing asset base in XRP ETFs, now approaching $1 billion with $1.43 billion in cumulative inflows, suggests these products have found a durable audience.
Altcoin ETFs have smaller asset bases, which means outflows can hit them proportionally harder when sentiment reverses. A $7 million outflow from a $982 million XRP fund stings a lot more than a $77 million outflow from a Bitcoin product managing many multiples of that figure.