IMF says Chivo sale talks; Ether, XRP inflows; BTC hash rate
Key developments in digital assets on Monday included the International Monetary Fund confirming talks with El Salvador to sell the state-managed Chivo Bitcoin wallet, a reversal in U.S. spot Ether ETF flows after a week of withdrawals, and VanEck analysts noting that a recent decline in Bitcoin‘s hashrate may support prices.
IMF says El Salvador in talks to sell state-run Chivo Bitcoin wallet
The International Monetary Fund’s mission chief for El Salvador said government officials are moving forward with negotiations to sell the country’s Chivo Bitcoin (BTC) wallet. In a Monday statement, the IMF noted the government continues to discuss its Bitcoin initiative with fund staff, adding that “negotiations for the sale of the government e-wallet Chivo are well advanced.” The update indicates authorities may be planning to dispose of some or all crypto assets held in the Chivo wallet.
The statement follows a May agreement under which the IMF would disburse $120 million as part of a 2024 loan program totaling $1.4 billion. The deal stipulates the government would halt additional Bitcoin purchases.
It remains uncertain whether El Salvador is fully adhering to the terms. The IMF reported in July that the government hadn’t acquired BTC since December 2024, but El Salvador’s Bitcoin Office has continued to announce purchases, including 1,090 Bitcoin valued at about $100 million in November.
Per the publicly disclosed IMF–El Salvador agreement, the government would keep public sector involvement in BTC-related economic activities “confined,” maintain voluntary acceptance of Bitcoin in the private sector, and phase out its role in the Chivo wallet. An IMF spokesperson said negotiations to sell Chivo are ongoing and declined to provide additional details.
El Salvador adopted Bitcoin as legal tender in 2021 and began accumulating BTC under President Nayib Bukele’s strategy. According to figures from the country’s Bitcoin Office, the government held 7,509 Bitcoin as of Monday, worth roughly $659 million at the time of writing.
Ether ETFs snap outflow streak while XRP products post multi-week highs
U.S. spot Ether (ETH) exchange-traded funds recorded $84.6 million in net inflows on Monday, ending a seven-day outflow streak and marking one of the larger one-day turnarounds this month. The move follows more than $700 million exiting spot Ether products last week. According to SoSoValue data, cumulative net inflows have risen to about $12.5 billion.
XRP (XRP) ETFs also extended their uninterrupted streak of net inflows, adding $43.9 million on Monday, the strongest daily figure since early December. Since launch, XRP ETFs have not posted a single day of net outflows, resulting in cumulative net inflows exceeding $1.1 billion.
While XRP ETF trading volumes remain smaller than those of Ether products, the steady pattern of inflows is notable. Data indicate that early investors have been gradually building positions rather than engaging in short-term rotations.
Bitcoin miner capitulation may signal bottom is near: VanEck
Bitcoin’s network hashrate fell 4% over the month to Dec. 15, which VanEck analysts said on Monday was driven by Chinese miners shutting down operations. They added that prolonged hashrate compression has historically aligned with stronger forward returns, framing miner capitulation as a “bullish contrarian signal.”
“When hash rate compression persists over longer periods, positive forward returns tend to occur more often and with greater magnitude,” said VanEck’s crypto research lead Matt Sigel and senior investment analyst Patrick Bush.
According to their analysis, since 2014, Bitcoin’s 90-day forward returns were positive 65% of the time following a 30-day decline in hashrate, compared with 54% when hashrate increased.
The trend could be constructive for Bitcoin (BTC) miners if higher prices expand margins or bring previously unprofitable operations back online.
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