Spot Bitcoin and Ethereum exchange-traded funds (ETFs) continued to experience outflows on Tuesday, marking the fifth consecutive trading day of net outflows for both assets. In contrast, the Solana fund has seen net inflows for six days in a row.
According to data from Farside Investors, the spot Bitcoin ETF recorded a net outflow of $578 million on Tuesday, the largest single-day drop since mid-October last year. BlackRock's iShares Bitcoin Trust (IBIT) and Fidelity's FBTC led the redemptions.
The spot Ethereum ETF also faced pressure, with a net redemption of $219 million on the same day. Fidelity's FETH and BlackRock's ETHA products were at the forefront, continuing a five-day trend of outflows, with nearly $1 billion in net outflows from Ethereum-related ETFs since the end of October last year.
In contrast, the spot Solana ETF saw a net inflow of $14.83 million, marking its sixth consecutive day of growth. Bitwise's BSOL and Grayscale's GSOL both achieved net inflows, as institutional traders continue to rotate capital into this emerging, yield-bearing product.
Vincent Liu, Chief Investment Officer at Kronos Research, stated in an interview with Cointelegraph that this pattern reflects heightened macro-level anxiety rather than a loss of confidence in digital assets.
"Multiple days of redemptions indicate that institutions are reducing their risk exposure while deleveraging and facing increased macro volatility," Liu said. "Until liquidity conditions stabilize, capital rotation will continue to pressure ETFs."
He added that the current outflows are driven by a stronger dollar and a risk-off environment due to tightening overall market liquidity, rather than a decline in faith in crypto assets.
Liu also claimed that Solana's strength is "partly due to new funds encountering a new story, with a yield-attractive new ETF attracting curious capital." He noted that while others are losing ground amid macro chaos, Solana's "speed, staking, and narrative keep the momentum upward."
Liu warned that the growth of Solana's ETF is still niche. "This is a narrative-driven move by early adopters chasing yield and growth. The broader market remains in risk-off mode," he cautioned.
Related: Reports indicate that a Nordic bank that once rejected cryptocurrencies is set to launch a Bitcoin (BTC) ETP.
Original: “Bitcoin (BTC) and Ethereum (ETH) ETFs Continue Outflows, Solana Quietly Attracts ‘Curious Capital’”
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