The crypto market witnessed major developments as Bitcoin spot ETFs reported $294.62 million in net outflows, while XRP whales accumulated during the price dip. Meanwhile, Metaplanet disclosed its BTC revenue and Avalanche Treasury stock fell.
Bitcoin Saw $294 Million in Outflows
According to SoSoValue, the Bitcoin spot ETF saw a total net outflow of $294.62 million yesterday. The Bitcoin Spot ETF with the highest net inflow yesterday was the Grayscale Bitcoin Mini Trust ETF $BTC, with a daily net inflow of $36.33 million. The second highest was Morgan Stanley’s ETF MSBT, with a daily net inflow of $29.81 million, and the total historical net inflow of MSBT currently stands at $364.01 million. The Bitcoin Spot ETF with the highest net outflow yesterday was BlackRock’s ETF IBIT, with a daily net outflow of $219.39 million, and the total historical net inflow of IBIT currently stands at $60.03 billion. The total net asset value of Bitcoin Spot ETFs is $72.46 billion, with an ETF net asset ratio of 6.01%. The historical cumulative net inflow has reached $50.86 billion.
XRP Whales are Accumulating
According to market analyst Xaif Crypto, XRP’s drop to $1.04 appears to have triggered fear among smaller traders, but large investors saw it as a buying opportunity. XRP has since recovered to $1.06. A key indicator is the All CEX whale spread, which has climbed to 50.9%, signaling that whales now control a significantly larger share of XRP held on centralized exchanges. Coinbase whale outflows have surged. Transfers of more than 1 million XRP jumped from 10% to 25.7% of total exchange activity in just two weeks. Large withdrawals are widely viewed as a bullish signal, suggesting investors are moving tokens into private wallets for long-term holding instead of preparing to sell.
Metaplanet Reports Bitcoin Income Business Revenue
Japanese listed company Metaplanet released results for its Bitcoin income business revenue in the second quarter of fiscal 2026. According to Foresight News, the business recorded operating revenue of 1.75 billion yen in the second quarter. Metaplanet said cumulative revenue for the first half of the fiscal year reached 4.72 billion yen. The company added that over the past 12 months, cumulative revenue from its Bitcoin income business totaled 11.4 billion yen.
Ethereum Posts Historic Third Straight Losing Quarter
The second-largest cryptocurrency has fallen victim to the prolonged bear market as the second quarter closed. This makes it the asset’s third consecutive quarterly loss. Since reaching its all-time high of nearly $5,000 in August 2025, the price of the cryptocurrency has maintained a steady downward trajectory. Data from CoinGecko reveals that the asset is now trading around $1,560, representing a 70% contraction from its peak price. Historically, the month of July does not usually favor the platform’s performance, having closed lower in six of the last ten years.
Avalanche Treasury Stock Collapses
Avalanche Treasury Co. shares have fallen sharply since their Nasdaq debut as lower AVAX prices have weighed on the company’s digital asset holdings. The AVAX-focused digital asset treasury firm began trading under the ticker AVAT on June 11. The stock recently traded near $0.50, down about 73% from its $1.85 close on debut. AVAX recently traded near $6.69, up 0.94% over 24 hours but down 23% over the past month. Avalanche Treasury reported a net loss of $26.78 million for the quarter ended March 31, according to its latest SEC filing. The company also reported $1.22 million in cash and a net working capital deficit of $9.06 million at quarter-end.
FAQs
1. How much outflow did Bitcoin spot ETFs record?
According to SoSoValue, Bitcoin spot ETFs recorded total net outflows of $294.62 million yesterday. BlackRock’s IBIT saw the largest withdrawal at $219.39 million.
2. Which Bitcoin ETF saw the highest inflow?
The Grayscale Bitcoin Mini Trust ETF recorded the highest daily inflow at $36.33 million. Morgan Stanley’s MSBT followed with $29.81 million in daily inflows, taking its historical inflow to $364.01 million.
3. Why are XRP whales accumulating?
According to market analyst Xaif Crypto, XRP’s fall to $1.04 created fear among smaller traders but attracted larger investors. Coinbase whale transfers above 1 million XRP rose from 10% to 25.7% of exchange activity in two weeks.
4. How much revenue did Metaplanet report from its Bitcoin income business?
According to Foresight News, Metaplanet’s Bitcoin income business generated ¥1.75 billion in operating revenue during Q2 FY2026. The company said revenue reached ¥4.72 billion in the first half and ¥11.4 billion over the past 12 months.
5. Why did Avalanche Treasury stock fall sharply?
Avalanche Treasury stock has dropped around 73% from its Nasdaq debut close as weaker AVAX prices pressured its digital asset holdings. The company also reported a quarterly net loss of $26.78 million and a working capital deficit of $9.06 million.
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