Bitcoin (BTC) is still struggling to recover from the downward trend that began in October, and the latest sharp sell-off pushed it down to levels around $60,000.
Altcoins also experienced significant losses along with Bitcoin’s decline, with Ethereum (ETH) falling below $2,000.
While the downward trend in prices continues, the situation in ETFs remains mixed.
Bitcoin, Ethereum, and XRP ETFs Seen to Exit!
According to SoSoValue data, Bitcoin, Ethereum, and XRP ETFs experienced net outflows, while Solana (SOL) ETFs saw net inflows.
Accordingly, a net outflow of $133.3 million was observed in US spot Bitcoin ETFs.
Daily flows in Bitcoin ETFs were as follows: “BlackRock (IBIT) fund experienced outflows of $84.2 million and Fidelity (FBTC) fund experienced outflows of $49.1 million. In contrast, Bitwise (BITB), Ark Invest (ARKB), Franklin (EZBC), VanEck (HODL), Grayscale (GBTC), Grayscale (Mini BTC), Valkyrie (BRRR), and Invesco (BTCO) fund recorded 0 inflows.”
According to SoSoValue data, spot Ethereum ETFs saw a net outflow of $41.8 million.
Fund flows in Ethereum ETFs were as follows: “BlackRock (ETHA) fund experienced outflows of $29.9 million, Fidelity (FETH) fund outflows of $8.2 million, and Invesco (QETH) fund outflows of $3.7 million. In contrast, VanEck (ETHV), Grayscale (ETHE), Grayscale Mini Trust (ETH), Bitwise (ETHW), 21Shares (TETH), and Franklin Templeton (EZET) funds recorded 0 inflows.”
The outflows from ETH ETFs coincide with Ethereum’s price trading below $2,000 and its struggle to gain momentum despite general expectations of interest rate cuts later in the year.
XRP ETFs also fell into negative territory, recording a daily outflow of $2.2 million.
The Situation is Different in Solana!
While Bitcoin, Ethereum, and XRP ETFs experienced outflows, Solana (SOL) stood out from the rest.
According to SoSoValue data, US spot SOL ETFs recorded net inflows of $2.4 million, bringing total inflows to approximately $880 million.
Bitwise’s BSOL fund led the way with a new capital injection of $1.5 million.
What Does It Mean?
This situation shows that some investors are changing their positions rather than exiting the crypto markets entirely.
According to experts, the difference between Bitcoin and Ethereum, XRP, and Solana ETFs reflects a shift in risk preferences rather than a complete loss of confidence in digital assets. Capital is still moving within the crypto sector, with different use cases or other altcoins being preferred.
*This is not investment advice.
