Key facts
- US spot bitcoin ETFs collectively lost $64 million on Monday.
- Grayscale's GBTC accounted for the majority of bitcoin ETF outflows, losing $124 million.
- BlackRock's IBIT, the largest bitcoin ETF, saw inflows of $66 million.
- Spot ETFs for ether, XRP, Solana, and Hyperliquid all recorded inflows.
- Ether ETFs gained $22.5 million, while XRP and Solana ETFs added about $2.8 million each.
US spot bitcoin exchange-traded funds (ETFs) experienced net outflows totaling $64 million on Monday. This occurred even as ETFs tracking other cryptocurrencies like ether, XRP, and Solana saw fresh capital injections. The outflows from bitcoin ETFs were largely concentrated in Grayscale's GBTC, which shed $124 million, while BlackRock's IBIT, the largest bitcoin ETF, attracted $66 million. Meanwhile, ether ETFs gained $22.5 million, and XRP and Solana ETFs added approximately $2.8 million each. This pattern mirrored the day's price action, where XRP, Solana, and other altcoins saw notable gains, outperforming bitcoin. Analysts are watching to see if the inflows into altcoin ETFs are sustainable once the drag from GBTC's outflows diminishes, which would indicate a genuine rotation in investor interest.