ETF Flows Recap
Spot crypto ETFs logged -$60.7M ↓ in net outflows during Wednesday's settled session, according to InflowScan data. Thursday's issuer reports have not yet published; the figures below reflect the most recent fully-settled tape.
The redemption was concentrated in bitcoin products, with ARK 21Shares' ARKB taking the bulk of the hit and Grayscale's GBTC extending its long-running drip lower. Fidelity's FBTC absorbed the largest single inflow, partially offsetting the bleed.
Top inflows:
Top outflows:
- ARKB (ARK Invest): -$43.5M ↓
- GBTC (Grayscale): -$15.5M ↓
- BTCO (Invesco): -$6.4M ↓
ARKB's single-day redemption accounted for more than 70% of the gross outflow figure, a concentration that points to issuer-specific repositioning rather than a broad complex-wide exit. The split tape — FBTC bid, ARKB and GBTC offered — is consistent with fund-of-fund routing and tax-lot management rather than a directional sentiment shift.
Asset Price Analysis
Bitcoin trades at $63,988 heading into Thursday's open, down 0.8% over 24 hours and 0.6% on the week. The 30-day picture remains constructive at +13.7%, with the $64,000 handle acting as the near-term pivot. A failure to reclaim that level would expose the prior consolidation zone in the low-$63,000s.
Ether sits at $1,744, off 0.4% on the day and 3.7% on the week — the weakest weekly read across the majors and a continued reminder that ETH has lagged the broader complex through the recent leg higher. Solana, by contrast, prints $70.95 with a 9.2% weekly gain and +15.6% over 30 days, the strongest momentum profile of the four. XRP holds $1.16, down 1.9% on the day but still +8.4% on the month.
The cross-asset picture shows a clear dispersion: SOL and XRP leading on a 30-day basis, BTC consolidating, ETH lagging. That ranking is broadly mirrored in the prior session's flow tape, where ETH products posted no notable inflows and SOL saw a small but positive contribution from FSOL.
Stablecoin Flows
USDC supply contracted by $209 million over the past 24 hours to $74.8 billion, while USDT slipped $30 million to $186.4 billion, per InflowScan data. The pair's combined draw is modest but directionally consistent with the soft ETF tape — dry powder on the sidelines is not building.
Outlook
Watch for Thursday's issuer reports to confirm whether the ARKB-driven redemption was a one-session event or the start of a sustained rotation. On price, the $64,000 reclaim level for BTC and the $1,750 area for ETH are the immediate references; SOL's ability to hold above $70 will determine whether its weekly outperformance extends.
InflowScan data shows the 30-day flow trend remains positive across the BTC complex despite Wednesday's print, which suggests the latest session reads as noise within a longer accumulation pattern rather than a regime change. The setup historically associated with sustained outflows — ETH weakness pairing with a broader stablecoin draw — bears monitoring into next week.