Midweek Crypto ETF Flows Show Mixed Trends
Estimated Reading Time: 3 minutes
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
This midweek, the crypto market has produced a lot of surprises in the ETF market. It appears that after a strong surge in inflows on Tuesday, both Bitcoin and Ether ETFs quickly reversed course, losing a total of $462 million. On the other hand, Solana ETFs kept up their positive momentum, extending their winning streak despite the general trend of outflows in the market.
Bitcoin and Ether ETFs See Redemptions
Bitcoin ETFs experienced a large outflow, with $277.98 million being pulled out of various funds. This marked a sudden shift back to losses after a brief recovery on Tuesday. The biggest withdrawal came from Fidelity’s FBTC, which lost $132.86 million. Other major bitcoin ETFs, like Ark & 21Shares’ ARKB and BlackRock’s IBIT, also saw notable outflows of $85.18 million and $36.88 million, in that order.
On the other hand, it appears ETFs were not spared either, with redemptions totaling $183.77 million. As it stands, BlackRock’s ETHA saw the largest outflow of $91 million, followed by Grayscale’s ETHE and Fidelity’s FETH, which lost $49.35 million and $19.62 million, respectively. However, despite these withdrawals, the trading volume for both Bitcoin and Ether ETFs remained high, showing that while investor interest may have cooled, there was still plenty of liquidity in the market.
Solana ETFs Keep Gaining Popularity
In contrast to the happenings in the midweek, Solana ETFs have a different story recorded for them. These funds managed to attract $18.06 million in net inflows, going against the broader market’s trend of pullbacks. The largest contribution came from Bitwise’s BSOL, which added $12.46 million, while Grayscale’s GSOL contributed $5.59 million.
At the moment, Solana ETFs continue to see growth, which suggests a rising interest from institutional investors who are more attracted to this digital asset. To this end, with $35.42 million in daily trading volume and net assets reaching $574.42 million, Solana ETFs stand out as a positive force in the market.
In summary, Wednesday’s trading data shows a clear divide: while Bitcoin and Ether ETFs are facing lower investor interest, Solana ETFs continue to gain ground, showing strength in a market filled with uncertainty.
In order to place winning trades with us via Bybit, you can open an account here.
