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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.