Bitcoin (BTCUSD) and Ether (ETHUSD) Traded Flat Wednesday, with Bitcoin Steady Around $66000 and Ether Trading a a Bit Under $3300.

Exactly a week after they made their debut on U.S. stock exchanges, spot ether exchange-traded funds (ETFs) recorded their second day of positive inflows

Bitcoin (BTCUSD) and ether (ETHUSD) traded flat Wednesday, with bitcoin holding steady around $66,000 and ether trading a a bit under $3,300.

Ether ETFs Turn Positive, Bitcoin ETFs Trip

A second day of positive inflows for spot ether exchange-traded funds (ETFs) amounted to $33.7 million on Wednesday, exactly a week after they debuted on U.S. stock exchanges.

BlackRock's iShares Ethereum Trust (ETHA) saw the third-strongest day of inflows among the new spot ether ETFs so far with $118 million, according to Farside Investors. But cumulative net outflows for the spot ether ETFs stood at $406.4 million at end of Tuesday, driven largely by Grayscale Ethereum Trust's (ETHE) $1.84 billion of outflows so far.

Meanwhile, Tuesday also brought a rare day of net outflows for the spot bitcoin ETFs, with $18.3 million leaving that market, according to Farside Investors. As expected, the Grayscale Mini Bitcoin Trust began trading Wednesday morning.

The launch included a distribution of 10% of the existing fund's bitcoin holdings to seed the new ETF, which led to a drop greater than that percentage in the value of GBTC shares the day before the new investment firm's Mini Bitcoin Trust started trading.

XRP Jumps Amid Optimism Around SEC Lawsuit

Among the larger digital assets, XRP (XRP) has been a big mover, initially rising nearly 3% after the SEC made a filing Tuesday in its case against crypto exchange Binance that suggests the regulatory agency may not pursue a ruling on whether third-party tokens, such as Solana (SOL) and Polygon (MATIC), are unregistered securities.

While some traders see this as a sign that the SEC will be abandoning lawsuits against digital assets that could be considered unregistered securities, others advise caution.

"There is no reason to think SEC has decided SOL is a non-security," Variant Fund Chief Legal Officer Jake Chervinsky posted on X, adding that SEC still considers these tokens securities in other lawsuits.

"They don't want to do discovery on a dozen tokens in the Binance case, which appears to be a litigation tactic, not a change in policy."

Mt. Gox Distributions Continue

In other news, failed bitcoin exchange Mt. Gox on Tuesday night transferred $3.1 billion more in bitcoin to a new bitcoin address, which crypto analytics firm Arkham Intelligence believes belongs to custodian firm BitGo.

BitGo is assisting the Mt. Gox trustee in returning bitcoin to creditors, a process that began last month with the first bitcoin distribution since the exchange failed in 2014.

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