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Institutional Investors Exit Bitcoin and Ethereum, Rotate Into This Altcoin
Bitcoin ($BTC) continues to struggle to recover from the downtrend that began in October, with the latest sell-off pushing the price to around $60,000.
Altcoins have also suffered significant losses, with Ethereum ($ETH) falling below $2,000.
Despite the ongoing price decline, ETF flows present a mixed picture.
Outflows from Bitcoin, Ethereum, and XRP
According to SoSoValue, spot ETFs tied to Bitcoin, Ethereum, and XRP recorded net outflows, while Solana ETFs saw net inflows.
U.S. spot Bitcoin ETFs registered a total daily net outflow of $133.3 million.
Daily flows included:
- $84.2 million outflow from BlackRock’s IBIT
- $49.1 million outflow from Fidelity’s FBTC
- Zero inflows across funds from Bitwise (BITB), ARK Invest (ARKB), Franklin Templeton (EZBC), VanEck (HODL), Grayscale (GBTC and Mini BTC), Valkyrie (BRRR), and Invesco (BTCO)
Ethereum ETFs Also in the Red
Spot Ethereum ETFs recorded a net outflow of $41.8 million:
- $29.9 million from BlackRock’s ETHA
- $8.2 million from Fidelity’s FETH
- $3.7 million from Invesco’s QETH
All other listed Ethereum ETFs recorded zero inflows.
The outflows coincided with Ethereum falling below $2,000 and struggling to gain momentum despite expectations of rate cuts later in the year.
XRP ETFs also posted a daily outflow of $2.2 million.
Solana Stands Out
In contrast, U.S. spot Solana ETFs recorded a net inflow of $2.4 million, bringing cumulative inflows to approximately $880 million.
Bitwise’s BSOL fund attracted $1.5 million in new investments.
What Does It Mean?
The data suggests that some investors are rotating positions rather than exiting the crypto market entirely.
According to experts, the divergence between Bitcoin, Ethereum, XRP, and Solana ETF flows reflects shifting risk preferences rather than a loss of confidence in digital assets. Capital continues to move within the crypto sector, favoring alternative use cases and select altcoins.
