Solana ETFs Post Inflows as Bitcoin, Ether, XRP Suffer Outflows

TLDR

• Bitcoin spot ETFs saw $133.3 million in daily net outflows, with BlackRock’s IBIT losing $84.2 million and Fidelity’s FBTC shedding $49 million.
• Ether spot ETFs experienced $41.8 million in net outflows, driven primarily by BlackRock’s ETHA, which lost nearly $30 million.
• XRP ETFs posted $2.2 million in outflows, with total net assets across XRP funds just over $1 billion, or 1.2% of XRP’s market cap.
• Solana spot ETFs recorded $2.4 million in net inflows, contrasting with the broader market trend of outflows in major crypto ETFs.
• Despite a cautious market, Solana ETFs have seen nearly $880 million in cumulative inflows, led by Bitwise’s BSOL with $1.5 million in new capital.

Cryptocurrency exchange-traded funds (ETFs) in the U.S. faced outflows across major assets, with Bitcoin, Ethereum, and XRP seeing significant daily losses. However, Solana ETFs bucked the trend, recording modest inflows. As of February 18, Bitcoin spot ETFs experienced $133.3 million in daily net outflows, with both Ether and XRP following suit.

Bitcoin ETFs Experience Major Outflows

Bitcoin ETFs saw major outflows, totaling $133.3 million in net losses on February 18. BlackRock’s Bitcoin ETF (IBIT) was the hardest hit, losing $84.2 million. Fidelity’s Bitcoin ETF (FBTC) followed closely with $49 million in outflows.

Despite the outflows, Bitcoin ETFs still hold $83.6 billion in net assets, representing about 6.3% of Bitcoin’s market cap. However, the recent outflows suggest a shift in investor sentiment as institutional exposure appears to be trimming down.

Ether ETFs Mirror Bitcoin’s Losses

Ether ETFs faced a similar pattern, with $41.8 million in net outflows on the same day. BlackRock’s Ethereum ETF (ETHA) saw the largest drop, shedding nearly $30 million. Total net assets across Ethereum funds now stand at $11.1 billion, or 4.8% of Ether’s market cap.

Ether’s price struggles below $2,000, which has affected ETF performance. Investors had hoped for stronger momentum, especially with expectations of potential rate cuts later this year.

Solana ETFs Record Modest Inflows

Solana ETFs, in contrast, bucked the trend of outflows. On February 18, Solana spot ETFs saw $2.4 million in net inflows. Bitwise’s BSOL led the charge, adding $1.5 million in fresh capital.

With nearly $880 million in cumulative inflows, Solana ETFs have gained attention despite the broader risk-off environment in the crypto market. The inflows, while modest, indicate a shift toward specific assets such as Solana rather than a broad market-wide retreat.

While Bitcoin, Ether, and XRP ETFs faced losses, smaller altcoins such as Solana have seen inflows. This selective interest reflects investor positioning, as some continue to allocate to certain cryptocurrencies. Solana’s ability to stand out amid this period of market caution highlights its growing appeal to institutional investors.

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