Bitcoin ETFs record $251 million inflows and reignite market momentum

Spot Bitcoin ETFs are delivering good news. On Tuesday, net inflows reached $251 million, bringing the monthly total to $1.56 billion, a level not seen for several months. Meanwhile, Goldman Sachs surprises: the bank is now the top institutional holder of XRP ETFs.

Bitcoin resists, institutional flows accelerate

On Tuesday, spot Bitcoin ETFs listed in the United States captured $251 million in net inflows, according to SoSoValue data. The day before, these same funds had already recorded $167 million. Two consecutive days in the green, sending a clear message to the markets.

This momentum occurs despite a delicate context. Bitcoin briefly slipped below $70,000 on Tuesday, reaching $69,400 according to CoinGecko, before stabilizing around $69,810. A modest correction, but one that could have dampened enthusiasm. That was not the case.

Since the beginning of March, Bitcoin ETFs have now accumulated $1.56 billion in net positive flows. A striking contrast with the $576 million of outflows recorded over the same period. The turnaround is clear.

This resurgence fits into a broader dynamic. For the first time in five months, US spot Bitcoin ETFs are experiencing two consecutive weeks of positive flows. Institutional investors are returning, cautiously but firmly, to the reference asset.

Goldman Sachs leads XRP, but retail investors still dominate

On the XRP ETF side, the situation remains mixed. Funds recorded about $3.9 million in outflows on Tuesday, a fourth consecutive session in the red. However, the pace of redemptions is significantly slowing compared to the heavier withdrawals on Monday.

It is in this context that James Seyffart, ETF analyst at Bloomberg, published a notable analysis on X. He reveals that Goldman Sachs has become the top institutional holder of XRP ETFs, with about $154 million declared as of December 31, 2025. Far ahead of Millennium Management ($23 million) and Logan Stone Capital ($5.3 million).

Despite this heavyweight presence, XRP ETFs remain predominantly driven by retail investors. Only 15.9% of their assets under management appear in the 13F filings, the quarterly disclosures of US institutional investors. 

For comparison, this number rises to 48.8% for Solana ETFs, which are much more institutionalized. Bitcoin and Ether are between the two, at 24% and 27% respectively.

The gap widens between Bitcoin and altcoins. Institutional investors are consolidating their positions on BTC, while XRP, Ether, and Solana ETFs struggle to hold capital. Goldman Sachs may dominate 13F filings on XRP, but that is not enough to reverse the trend. The real battle is elsewhere: it is the battle for institutional legitimacy, and Bitcoin is already far ahead there.