Institutional investors are significantly accumulating XRP and Solana while offloading their Bitcoin holdings. This comes amid the launch of the new altcoin ETFs in the United States (U.S.), which provide spot exposure to these coins.

Institutions Buy XRP And Solana While Dumping Bitcoin

A CoinShares report showed that institutional investors bought XRP and Solana while offloading BTC. The SOL funds recorded $421 million in inflows, the second largest on record, thanks to the launch of the U.S. spot Solana ETFs . XRP funds also recorded inflows of $43.2 million. Meanwhile, the Bitcoin ETFs recorded an outflow of $946 million. Notably, BTC was the only crypto asset to record an outflow.

CoinShares noted that the outflows from the Bitcoin ETFs were likely due to Fed Chai

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