Bitcoin and Ethereum ETFs Extend Outflows, While Solana ETF Attracts Fresh Capital

Investors continued to pull funds from major Bitcoin and Ethereum exchange-traded funds this week, with net redemptions across the two largest cryptocurrency categories. Bitcoin ETFs recorded their fifth consecutive closing of outflows, with a total of $372.77 million leaving the products. The sharp withdrawals reflect ongoing pressure on established crypto investment vehicles amid broader market volatility.

BlackRock’s iShares Bitcoin Trust experienced the largest single-day exit in the category, losing $523.20 million. Some relief came from smaller funds, as Grayscale’s Bitcoin Mini Trust brought in $139.63 million and Franklin Templeton’s EZBC added $10.76 million. Despite these positive moves, the overall Bitcoin ETF segment closed firmly in negative territory, with trading volume reaching $5.84 billion and total assets under management standing at $122.29 billion.

Ethereum products showed a similar pattern, posting their sixth straight day of net outflows totaling $74.22 million. BlackRock’s ETHA fund again carried the heaviest withdrawal at $165.1 million. A handful of funds managed to attract capital, including Grayscale’s Ether Mini Trust with $62.39 million, Bitwise’s ETHW at $19.10 million, Franklin’s EZET with $4.76 million, and VanEck’s ETHV adding $4.59 million, yet the category still finished lower on the day with $1.75 billion in trading volume and $19.60 billion in assets.

Solana ETFs Continue Positive Streak

In contrast to the larger Bitcoin and Ethereum funds, Solana focused exchange-traded products recorded a solid $30.09 million net inflow, extending a multi-week run of gains. Bitwise’s BSOL led the group by taking in $23 million, followed by Grayscale’s GSOL at $3.19 million. Newer offerings also saw early interest, with Fidelity’s FSOL attracting $2.07 million and VanEck’s VSOL adding $1.83 million, pushing total assets in the category to $593.73 million alongside $73.14 million in daily trading volume.

Analysts have observed of the diverging flows, as Solana products maintain momentum while Bitcoin and Ethereum vehicles face sustained redemptions. Maja Vujinovic, chief executive of Digital Assets at FG Nexus, pointed to a combination of macroeconomic conditions, technical positioning, and profit-taking as primary drivers behind the Bitcoin ETF withdrawals. She noted that growth-sensitive assets sold off sharply in recent weeks, prompting redemptions when liquidity tightens and encouraging some investors to lock in gains after strong third-and fourth-quarter performance earlier in the year.

Price action across the major cryptocurrencies reflected the cautious tone, with Bitcoin down roughly 12% over the past seven days and trading near $88,000 at the time of publishing. Ethereum fell approximately 15% during the same period to around $2,879, while Solana has declined about 13% to $131. Market sentiment indicators remain close to neutral but lean toward moderate bearish readings as we weigh short-term pressures against longer-term developments.

Signs of institutional interest persist outside the immediate ETF flows. Kraken’s recent IPO filing and Bitwise’s launch of an XRP-focused ETF underscore growing mainstream engagement with digital assets. Privacy-oriented networks such as Zcash have also drawn attention from larger investors, and ongoing innovation in decentralized finance and Web3 continues through new partnerships and product releases.