Alt-crypto ETFs see net inflows as Strategy buys 1,665 Bitcoin
CIE News ·
Spot ETFs tracking Ethereum, Solana, and XRP registered simultaneous daily net inflows as Michael Saylor's Strategy acquired an additional 1,665 Bitcoin for $142.7 million.
Spot exchange-traded funds tracking Ethereum (ETH), Solana (SOL), and XRP logged simultaneous daily net inflows on September 28, alongside institutional treasury purchases of Bitcoin (BTC). According to Bitcoin.com News, ETH funds attracted roughly $17.10 million, SOL products added $12.70 million, and XRP funds drew $3.96 million, while spot BTC ETFs took in $31.07 million to stretch an eight-day inflow run.
Concurrently, Michael Saylor's Strategy purchased 1,665 BTC at an average cost of $85,681 per coin, according to a regulatory disclosure reported by morningstar.com. The enterprise software firm spent $142.7 million on the transaction, marking its second weekly allocation of the cryptocurrency in succession.
Flow trends across crypto ETFs remained selective, with Grayscale's Zcash product logging an $8.12 million outflow on the same day, Bitcoin.com News noted. At the time of reporting, Bitcoin traded near $84,000 following market-wide pressure tied to macroeconomic headwinds and elevated interest-rate expectations.