Bitcoin and Ether ETFs bleed as Solana quietly pulls in ‘curious capital’

Spot Bitcoin and Ether exchange-traded funds (ETFs) continued to bleed superior connected Tuesday, with some assets seeing their 5th consecutive time of outflows. In contrast, Solana funds extended their inflow streak to six days.

According to data from Farside Investors, spot Bitcoin (BTC) ETFs saw $578 cardinal successful nett outflows connected Tuesday, the steepest single-day diminution since mid-October. BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s FBTC led withdrawals, portion Grayscale’s GBTC recorded different $48.9 cardinal outflow.

Spot Ether (ETH) ETFs faced akin selling pressure, registering $219 cardinal successful nett redemptions. Fidelity’s FETH and BlackRock’s ETHA products bore the brunt, extending a five-day inclination that has wiped astir $1 cardinal successful superior from Ether-linked ETFs since precocious October.

In contrast, spot Solana (SOL) ETFs defied the marketplace gloom, posting $14.83 cardinal successful nett inflows, their sixth consecutive time of gains. Bitwise’s BSOL and Grayscale’s GSOL each added to the affirmative flow, arsenic organization traders proceed rotating superior into the newer, yield-bearing product.

Solana ETFs spot inflows for sixth consecutive day. Source: Farside

Related: ETFs volition usher institutions into altcoins, conscionable similar Bitcoin

Institutions trim hazard arsenic macro jitters rise

Vincent Liu, main concern serviceman astatine Kronos Research, told Cointelegraph that the signifier reflects increasing macro unease alternatively than waning assurance successful integer assets.

“Straight days of redemptions amusement institutions are trimming hazard arsenic leverage unwinds and macro jitters rise,” Liu said. “Until liquidity conditions stabilize, superior rotation volition support the ETF bleed alive.”

He added that the outflows stem from a broader risk-off situation driven by a strengthening US dollar and tightening liquidity, not from fading condemnation successful crypto.

Related: Bitcoin Whales Shift Billions Into ETFs Like BlackRock's IBIT

Solana’s emergence is caller flow, caller story: Liu

Liu besides claimed that Solana’s spot is “partly caller travel meets caller story, a caller ETF with output entreaty pulling successful funny capital.” He noted that portion others bleed amid macro chaos, Solana’s “speed, staking, and communicative support momentum tilted upward.”

However, Liu cautioned that Solana’s ETF maturation remains niche for now. “It’s a narrative-driven determination by aboriginal adopters chasing output and growth. The broader marketplace is inactive successful risk-off mode,” helium warned.

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