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Crypto

XRP spot ETF sees outflows as bitcoin and ethereum attract inflows

XRP spot exchange-traded funds posted net outflows for the first time in about a month, with $3.58 million leaving on Aug. 5, all from Bitwise’s XRP spot ETF. Other XRP spot ETFs were flat. Cumulative net inflows for XRP spot ETFs stood at $1.51 billion and assets under management at $993.38 million. In contrast, Bitwise’s bitcoin spot ETF drew $10.56 million and its ethereum spot ETF added $1.37 million on the same day.

Crypto

BlackRock to implement 1-for-3 reverse split for Ethereum ETF ETHA to cut trading costs

BlackRock will apply a 1-for-3 reverse split to its spot Ethereum exchange-traded fund iShares Ethereum Trust (ETHA). The move is aimed at raising the per-share price without changing investor asset value, and at narrowing bid-ask spreads to improve trading efficiency. The reverse split was approved on July 31 and will take effect in early October. Analysts said the change could reduce ETHA’s spread and lower trading costs.

Crypto

Ethereum spot ETFs beat bitcoin for second week, led by BlackRock\'s ETHA

Ethereum spot exchange-traded funds drew net inflows of $103.8 million last week, about three times the amount for bitcoin spot ETFs, which recorded $33.9 million, The Defiant reported. It was the second consecutive week ethereum spot ETFs outpaced bitcoin spot ETFs. The gap was driven mainly by BlackRock’s iShares Ethereum Trust (ETHA), which took in $96.3 million, while iShares Bitcoin Trust (IBIT) posted $95.5 million in net outflows.