Bitcoin ETFs Have a Tuesday From Hell: $159M Ditches Ship While XRP Rides Solo

The brief rebound from Monday, April 6, didn't even make it to happy hour. By Tuesday's close, April 7, crypto ETFs were back in full retreat mode.

Bitcoin ETFs led the charge south, recording $159.05 million in net outflows. Fidelity's FBTC took the biggest hit at $47.85 million. Grayscale's GBTC wasn't far behind, losing $41.89 million. Ark & 21Shares' ARKB bled $34.15 million, and VanEck's HODL saw $20.37 million head for the exits. Even BlackRock's IBIT, typically the belle of the ball, logged a $17.11 million outflow. Only Valkyrie's BRRR offered a sliver of hope with $2.32 million in inflows. Net assets settled at $88.71 billion on $1.78 billion in volume. April's showing so far: $480 million in inflows, $232 million out. Someone's buying the dip and someone's taking profits. Classic crypto.

Ether ETFs followed the same script. The sector hemorrhaged $64.67 million, with Fidelity's FETH leading the exodus at $48.21 million and BlackRock's ETHA shedding $16.46 million. Zero inflows. None. Trading hit $1.03 billion, and net assets closed at $11.98 billion.

Meanwhile, $XRP ETFs refused to participate in the red sea. The group pulled in $3.30 million, with Bitwise's $XRP fetching $1.90 million and Franklin's XRPZ adding $1.42 million. Volume came to $11.89 million, and net assets settled at $921.57 million. Not exactly whale territory, but hey, in this market, green is green.

Solana ETFs felt the heat too, with $15.40 million in outflows. Bitwise's BSOL accounted for $13.34 million of that, while Grayscale's GSOL lost $1.82 million. Trading reached $40.98 million, and net assets closed at $775.83 million.

The pattern is clear. Bitcoin and ether can't seem to catch a break, while XRP pokes its head up as the lone ranger. Smaller assets either bleed or, in XRP's case, manage to squeak out something positive. The market's alive, sure. Direction remains the million-dollar question.