ETF Flows

Spot crypto ETFs ended a brief stretch of net buying with -$44.5M ↓ in Thursday's settled session, according to InflowScan data. Friday's issuer reports have not yet published and remain settling overnight.

Outflows clustered in mid-tier bitcoin products rather than the BlackRock-Fidelity flagships, which is consistent with fund-of-fund routing rather than broad-based de-risking. The 30-day cumulative figure still shows a +$173.3M ↑ net inflow, so Thursday's print pulls the trailing month closer to neutral without flipping the trend.

  • Top outflows: ARKB (ARK Invest) -$20.7M ↓; BITB (Bitwise) -$15.6M ↓; BTCO (Invesco) -$12.6M ↓
  • Top inflow: MSBT (Morgan Stanley) +$9.9M ↑

The split — three legacy issuers redeeming, a single bank-distributed product taking subscriptions — points to allocator rotation within the bitcoin ETF complex rather than a wholesale exit.

Asset Price Analysis

Bitcoin trades at $61,973, down -3.1% ↓ over 24 hours and -0.6% ↓ on the week. The 30-day reading still holds at +13.7% ↑, which frames Thursday's slide as a give-back inside a broader uptrend rather than a trend break.

Ether took the heavier hit. ETH prints $1,664, off -6.1% ↓ on the day and -3.7% ↓ on the week — the largest 24-hour move across the four majors and a notable underperformance versus bitcoin. The ETH/BTC cross has weakened materially this session.

Solana at $66.11 is down -4.1% ↓ intraday but remains +9.2% ↑ on the week and +15.6% ↑ on the month, the strongest 30-day performer in the group. XRP at $1.12 shed -4.3% ↓ on the day while holding a +1.7% ↑ weekly gain.

Bitcoin's loss of the $62,000 handle puts the round number in focus as near-term resistance; the prior week's lows near $61,000 are the proximate downside marker. Ether's break below $1,700 leaves $1,650 as the next reference level.

Stablecoin Flows

Aggregate dollar-stablecoin supply contracted in the prior 24 hours, with USDT down $295.7M to $187.0B and USDC down $193.7M to $75.8B, according to InflowScan data. A combined ~$489M reduction is modest in absolute terms but the direction — supply burning rather than minting — is consistent with redemptions exceeding new dollar deployment into crypto venues.

Outlook

The friction point heading into Friday is whether bitcoin can defend the $61,000–$62,000 zone and whether ether's underperformance versus BTC stabilizes or extends. A continued widening of ETH/BTC weakness alongside another session of ether-product outflows — when Friday's issuer reports settle — would shift the read toward asset-specific rotation rather than a generalized risk-off move.

Levels to watch: BTC $62,000 reclaim versus a test of $61,000; ETH $1,650 support; SOL holding its weekly gain above $65. The next ETF flow tape lands Monday morning covering Friday's session, which will show whether Thursday's $44.5M redemption was a one-session reset or the start of a fresh outflow run.