Bitcoin exchange-traded funds (ETFs) started the week with massive outflows, reversing last week’s gains. Ethereum ETFs posted modest inflows, while XRP edged lower and Solana trading activity stalled.
Key Takeaways
- Bitcoin ETFs saw $291.11 million in outflows, led by Fidelity’s FBTC, signalling renewed caution.
- Ethereum ETFs attracted $9.44 million in inflows, with daily ETH transactions jumping 41% to 3.6 million.
- XRP ETFs logged $1.46 million in inflows, while Solana ETFs saw zero activity, suggesting selective demand for altcoin ETFs.
Ethereum Draws Inflows as Bitcoin Opens the Week Lower
The week began with mixed signals. While other parts of the market held firm, the rally that was evident just days ago quickly gave way to renewed selling pressure in Bitcoin ETFs. Bitcoin spot ETFs recorded $291.11 million in net redemptions, among the largest single-day outflows recently. Although underlying flows were mixed, the imbalance was decisive.
Blackrock’s IBIT managed to attract $34.7 million in inflows, while Bitwise’s BITB and Morgan Stanley’s MSBT saw $11.88 million and $6.28 million respectively. However, these gains were overwhelmed by large redemptions elsewhere. Fidelity’s FBTC led the decline with a massive $229.22 million outflow, followed by Ark & 21shares’ ARKB at $62.89 million. Grayscale’s GBTC shed $38.25 million, while its Bitcoin Mini Trust and VanEck’s HODL lost $11.03 million and $2.58 million respectively.
Trading volume reached $2.44 billion, with net assets standing at $94.51 billion. The scale of outflows suggests this is more of a institutional rebalancing than a full retreat.
In contrast, Ethereum ETFs flipped to modest net inflows. The category recorded $9.44 million in net inflows, though the process was far from smooth. Blackrock’s ETHA and 21Shares’ TETH saw outflows of $4.07 million and $1.35 million respectively. But steady inflows from other products offset the declines: Blackrock’s ETHB added $5.78 million, Grayscale’s Ether Mini Trust $5.15 million, and Fidelity’s FETH $3.93 million. Daily trading volume hit $831.08 million, with net option assets closing at $12.98 billion.
Notably, Ethereum network activity itself is accelerating. According to Artemis data, daily transactions surged 41% week-over-week to roughly 3.6 million, up from approximately 2.5 million just days earlier. The divergence between on-chain activity and ETF flows suggests investors are still weighing how to allocate holdings.
XRP ETFs saw modest inflows of $1.46 million, entirely driven by Franklin’s XRPZ. Trading volume reached $26.3 million, with net assets at $959.4 million. Solana ETFs remained flat, recording no activity. Net assets held steady at $812.25 million, reflecting persistent stagnation in investor participation.
Bitcoin and Ethereum ETFs Near $1B Weekly Inflow
After recent volatility, Bitcoin and Ethereum ETFs returned to an upward trajectory with combined net inflows of $973 million. The overall market remains fragmented. Despite pockets of demand, Bitcoin faces renewed selling pressure while Ethereum shows early signs of stabilization. Smaller assets remain erratic, with trading activity either minimal or confined to specific areas. Caution dominates as the week begins.