Last Friday, cryptocurrency ETF inflows diverged: mainstream assets faced pressure, while altcoins bucked the trend and attracted funds.

According to Mars Finance, on December 8th, the cryptocurrency ETF market showed a clear divergence last Friday: Bitcoin and Ethereum-related products experienced significant net outflows, while various altcoin ETFs, especially the XRP ETF, continued to attract institutional funds, indicating a significant adjustment in the capital structure. Significant outflows were observed in mainstream assets: • Bitcoin spot ETFs saw a net outflow of approximately $195 million in a single day, one of their weakest performances in weeks. • Ethereum ETFs also recorded significant net outflows, ending a brief period of net inflows earlier this week. Analysts point out that macroeconomic uncertainty (especially the upcoming inflation data) is prompting institutions to temporarily reduce risk rather than withdraw entirely. The decline in trading volume of mainstream ETFs also reflects investors' temporary wait-and-see attitude. In stark contrast to the pressure on BTC and ETH, the XRP ETF has maintained net inflows for several consecutive weeks, with cumulative inflows approaching $900 million, indicating that institutional confidence in its relative value and potential regulatory benefits continues to strengthen. Other altcoin ETFs, such as Solana, also recorded small net inflows, showing that market funds have not withdrawn but are rotating internally. As the year-end approaches and macroeconomic uncertainty rises, institutional investors are no longer viewing the crypto market as a single risky asset, but are instead becoming more selective: • Reducing holdings of BTC and ETH, which are more susceptible to macroeconomic downturns; • Increasing allocations to altcoins with stronger momentum or clearer narratives. Friday's ETF fund flow data highlights a new trend among institutions in a volatile environment: exiting the mainstream but not the market; increasing holdings of alternative assets with stronger volatility resistance.