Crypto Majors Climb While Ether and XRP ETFs See Outflows

Ether ETFs remained under selling pressure Thursday even as ETH gained, while most major crypto assets advanced and Zcash continued to outperform.

U.S. spot ether ETFs posted about $39 million in net outflows, extending the withdrawal streak to three consecutive sessions. The products recorded approximately $224 million in outflows Wednesday and $141 million Tuesday, according to SoSoValue. Ether, meanwhile, rose 2% to around $2,470 over the same period.

XRP ETFs saw roughly $5 million in net withdrawals, reversing a small inflow from the previous session. Bitcoin ETFs attracted about $159 million, while the lone U.S. Zcash fund received close to $47 million.

The Zcash product’s latest inflow was its largest in a month that has generated more than $230 million in total inflows. On a 30-day basis, ether ETFs remain more than $1.5 billion ahead in net flows, while bitcoin ETFs have pulled in nearly $2.5 billion.

Zcash led the major crypto market again, gaining 10% to roughly $1,488. Hyperliquid’s HYPE climbed nearly 10% to above $86, while Solana added 5% to almost $105. BNB rose close to 4% to around $750.

Dogecoin advanced approximately 4%, while ether and XRP each gained 2%. Bitcoin climbed more than 1% to about $77,216, according to CoinDesk data. Tron was the only major cryptocurrency to remain largely flat.

Oil Decline Helps Risk Assets

Stocks and bonds rallied together as oil prices fell, one day after the Federal Reserve delivered its first rate hike since 2023. The S&P 500 added about 1%, marking its strongest advance in six weeks, while the Nasdaq 100 gained nearly 2%. Semiconductor stocks rose 3%.

The 10-year Treasury yield dropped after an eight-session run of increases. The dollar was little changed, gold moved higher and Brent crude settled below $105 a barrel.

Lower oil prices reduced some of the inflation pressure that had prompted the Federal Reserve to raise rates. That helped bonds and equities advance at the same time rather than competing for investor demand.

Crypto markets have followed the broader risk-asset move this week, with major tokens largely tracking equities instead of moving ahead of them.

The Zcash ETF is meanwhile drawing inflows on days when the two largest crypto ETFs are posting withdrawals. Whether that difference in fund flows persists into next week remains a key point for investors to monitor.