Bitcoin exchange-traded funds (ETFs) opened the week with heavy outflows, reversing last week’s momentum. Ether ETFs posted modest gains, while XRP declined, and solana activity stalled.
The week opened on uneven ground. Momentum, so evident just days ago, quickly gave way to renewed selling pressure in bitcoin ETFs, even as other corners of the market showed resilience.
Bitcoin ETFs: $291M Outflow Led by Fidelity FBTC
Bitcoin spot ETFs recorded a sharp $291.11 million in net outflows, marking one of the largest single-day withdrawals in recent sessions. The underlying flow was mixed, but the imbalance was decisive. Blackrock's IBIT managed to attract $34.70 million in inflows, while Bitwise's BITB and Morgan Stanley's MSBT added $11.88 million and $6.28 million each. Yet these gains were overwhelmed by heavy redemptions elsewhere.
Fidelity's FBTC led the exodus with a steep $229.22 million outflow, followed by Ark & 21shares' ARKB at $62.89 million. Grayscale's GBTC shed $38.25 million, with additional outflows from its Bitcoin Mini Trust at $11.03 million and Vaneck's HODL at $2.58 million. Trading activity remained robust at $2.44 billion, with net assets standing at $94.51 billion. The scale of outflows suggests institutional repositioning rather than a full retreat.
Ether ETFs: $9.44M Inflows Amid On-Chain Surge
Ether ETFs, by contrast, edged into positive territory. The group recorded $9.44 million in net inflows, though the path there was far from smooth. Blackrock's ETHA and 21Shares' TETH saw outflows of $4.07 million and $1.35 million, respectively. These were offset by steady inflows into other products. Blackrock's ETHB added $5.78 million, Grayscale's Ether Mini Trust brought in $5.15 million, and Fidelity's FETH contributed $3.93 million. Trading volume came in at $831.08 million, with net assets closing at $12.98 billion.
Notably, activity on the Ethereum network itself is accelerating. Daily transactions have surged 41% week over week to around 3.6 million, according to Artemis data, pointing to a sharp rise from roughly 2.5 million just days earlier. The divergence between on-chain activity and ETF flows suggests investors are still weighing how to position exposure.
XRP and Solana: Selective Demand
XRP ETFs moved higher, recording a modest $1.46 million inflow driven entirely by Franklin's XRPZ. Trading volume reached $26.30 million, with net assets closing at $959.40 million. Solana ETFs remained inactive, with no trading activity recorded. Net assets held steady at $812.25 million, reflecting a continued pause in investor engagement.
Weekly Context and Outlook
Just last week, bitcoin and ether ETFs combined to attract nearly $973 million in net inflows, reclaiming positive territory after recent volatility. However, Monday's sharp reversal has injected caution back into the market. While bitcoin faces renewed selling pressure despite pockets of demand, ether is showing early signs of stabilization, bolstered by strong on-chain fundamentals. XRP continues to attract selective interest, while Solana awaits a catalyst. The broader picture is one of divergence, with institutional investors seemingly repositioning rather than exiting altogether. As the week progresses, traders will watch for macroeconomic triggers and further fund flow data to gauge the next direction.