The ETFs, those much-scrutinized investment vehicles, have just delivered an irrefutable verdict: Ethereum is losing ground against XRP and Solana

The ETFs, those much-scrutinized investment vehicles, have just delivered an irrefutable verdict: Ethereum is losing ground against XRP and Solana. According to CoinShares

This week's ETF flows saw net outflows of 86 million dollars from ETH-related products as the token faces increasing pressure from rivals XRP and Solana.

According to data from CoinShares, the outflows from Ethereum come amid a series of setbacks for the blockchain, including delays in network updates and lagging performance against competitors.

However, institutional investors appear to be showing renewed interest in Bitcoin as a safe haven asset. The king coin saw inflows of 724 million in one week alone, driven in part by the launch of BlackRock’s iShares Bitcoin Trust.

Overall, the crypto market saw outflows of 613.5 million dollars in the seven days to August 18.

Bitcoin: A beacon of stability amidst turbulence

The crypto market is navigating turbulent times, juggling narratives of a pending market pullback, lackluster DeFi performance, and a surprising absence of pessimism in the face of troubling macroeconomic data.

Yet, amidst this turmoil, institutional investors appear to be seeking refuge in the familiar haven of Bitcoin. The king coin bucked the trend with massive inflows of 724 million dollars.

This staggering sum marks an astounding recovery from five consecutive weeks of outflows, totaling 1.16 billion dollars, which began in mid-June with the SEC's lawsuit against Coinbase.

Bitcoin's resilience is evident as it continues to be a subject of conversation even in the face of new entrants like Trump's memecoin, unveiled during his rally in Georgia.

The rally also saw an interesting occurrence with small outflows from crypto XRP and SOL, amounting to 6.7 million and 6.4 million respectively.

These outflows come after seven weeks of inflows for both tokens, suggesting a strategy of diversifying bets on undervalued assets.

On the other hand, Ethereum saw a fourth consecutive week of net outflows, summing up to 86 million dollars.

This lackluster performance from the second-largest cryptocurrency can be attributed to its lagging narrative as its rivals gain ground.

XRP: Back in the game with legal victory

Cryptocurrency XRP saw outflows of 6.7 million dollars this week, marking seven weeks of inflows as institutional investors appear to be warming up to the token.

The interest in XRP comes after a US judge ruled in July that the cryptocurrency is not a security, paving the way for greater institutional adoption.

Solana also saw outflows of 6.4 million dollars, extending the streak of inflows to seven weeks.

The inflows follow the news of the first Solana futures ETF being approved by the U.S. Securities and Exchange Commission.

The move sparked lively discussion among traders, drawing a parallel to the eagerly anticipated Bitcoin ETF, which could open the door to a surge in BTC derivatives products.

Solana’s high throughput of 10,000 transactions per second, compared to Ethereum’s 15, was a key talking point.

The discussion unfolded on X, formerly Twitter, where a user compiled a concise summary of the key takeaways from the week in crypto.

The post highlighted the massive 724 million dollar inflows into Bitcoin, contrasting sharply with the 613.5 million dollars in outflows across the entire crypto market.

The post also noted small inflows of 400,000 dollars into Polygon and 200,000 dollars into Chainlink, while Ethereum saw outflows of 86 million dollars.

The post concluded by saying that only projects with a winning combination of technology, adoption, and hype will survive in the long run.