The first full week of February showed a sharply divided crypto ETF market. From Feb. 2 to Feb. 6, spot bitcoin and spot ether funds remained under pressure as investors pulled capital from major products, while spot XRP ETFs moved in the opposite direction and emerged as one of the week’s strongest segments.
Bitcoin ETFs end the week with $318 million in net outflows
Spot bitcoin ETFs posted total net outflows of $318 million for the week. A strong rebound on Friday, including $371 million in daily inflows, pointed to renewed dip-buying interest, but it was not enough to erase the damage from earlier sessions. BlackRock’s IBIT swung sharply during the week and finished with $115.14 million in net outflows. Fidelity’s FBTC faced sustained redemptions and ended down $166.73 million, while Grayscale’s GBTC contributed another $173.82 million in outflows. Grayscale’s Bitcoin Mini Trust was a modest exception, recording $18.39 million in net inflows.
Other bitcoin products also reflected a cautious tone. Bitwise’s BITB and Ark & 21Shares’ ARKB stayed in net-selling territory, while smaller inflows into Invesco’s BTCO and WisdomTree’s BTCW provided only limited support. Overall, bitcoin ETF flows suggested that conviction remained weak despite late-week bargain hunting.
Ether ETFs remain under steady pressure
Spot ether ETFs recorded $166 million in net weekly outflows, extending a fragile trend. BlackRock’s ETHA led the declines with $152.16 million in outflows, making it the main drag on the sector. Fidelity’s FETH added to the weakness with $59.89 million in redemptions, especially during the middle of the week.
Grayscale’s ETHE saw $18.83 million in outflows, while its Ether Mini Trust brought in $32.97 million, highlighting mixed positioning across products. Smaller funds including Bitwise’s ETHW, Vaneck’s ETHV, and Invesco’s QETH posted intermittent inflows, but their scale was too limited to change the broader picture. Ether exposure remained soft as investors showed little firm conviction.
XRP ETFs stand out with $39 million in inflows
XRP spot ETFs were the clear outlier, attracting $39 million in net inflows for the week. Franklin’s XRPZ led with $20.50 million, while Bitwise’s XRP product added $20.01 million. Canary’s XRPC contributed a further $3.44 million in steady support. Although Grayscale’s GXRP briefly saw redemptions, that was not enough to derail the stronger trend across the XRP segment.
The move marked a notable reversal from the previous week’s net outflows and suggested renewed confidence in XRP-linked exposure. In a broader ETF market defined by caution and reversals, XRP was one of the few areas that managed to attract consistent capital.
Solana ETFs still search for footing
Spot Solana ETFs finished the week with $8.9 million in net outflows. Bitwise’s BSOL posted $8.61 million in redemptions, partly offset by $5.19 million of inflows into Fidelity’s FSOL. Grayscale’s GSOL leaned negative overall, while smaller products such as Vaneck’s VSOL, Franklin’s SOEZ, and 21Shares’ TSOL fluctuated without building lasting momentum.
Taken together, the week captured a crypto ETF market still struggling to stabilize. Bitcoin and ether remained caught in volatile push-and-pull trading, Solana had yet to establish stronger footing, and XRP quietly emerged as the standout winner in an otherwise unsettled environment.