TL;DR
- Spot Bitcoin ETFs recorded their largest daily withdrawal since October, with $566 million.
- In contrast, Solana (SOL)-linked investment funds completed six consecutive days of net inflows.
- Bitcoin (BTC) is showing signs of stabilization above $102,000 after bouncing off the key support level of $100,353.
The cryptocurrency exchange-traded fund (ETF) market shows a clear divergence. Products linked to Bitcoin (BTC) and Ether (ETH) registered their fifth consecutive day of significant capital withdrawals on Tuesday. This trend underscores cautious sentiment among investors toward the two main digital assets, just as the market attempts to stabilize after sharp drops early in the week.
According to market data, spot Bitcoin ETFs experienced net withdrawals of $566 million on Tuesday. This figure represents the largest single-day capital outflow since mid-October. Ether ETFs followed a similar trajectory, posting net outflows of $219 million. Fidelity’s FETH and BlackRock’s ETHA products were the main drivers of these redemptions.
This five-day negative streak has drained nearly $1 billion from Ether-linked ETFs since late October, highlighting weak investor confidence in the asset amidst volatility.
Solana Defies the Bearish Trend
In stark contrast to the outflows from Bitcoin and Ether ETFs, Solana (SOL) funds continued to attract capital. Spot Solana ETFs saw $14.83 million in net inflows on Tuesday, marking their sixth consecutive day of positive movement. Bitwise’s BSOL and Grayscale’s GSOL funds notably contributed to this increase.
These steady inflows suggest that institutional traders may be rotating funds into Solana-based products, which have gained traction as yield-bearing alternatives within the digital asset market.
Despite the pessimism in the ETF market, the prices of major cryptocurrencies are showing signs of stabilization. Bitcoin (BTC) is holding slightly above $102,000 this Wednesday, following an 8.18% drop earlier in the week that tested the 50% retracement level at $100,353.
Ethereum (ETH) also bounced after falling 15.73% and testing support at $3,171. Although the correction has dampened momentum, stabilizing prices and selective inflows into Solana suggest that investor sentiment remains cautiously constructive in certain segments.
