ETF Flows Recap
Spot crypto ETFs registered +$13.4M ↑ in net inflows in Thursday's settled session, according to InflowScan data. Friday's issuer reports have not yet been published. The Thursday tape was thin but cleanly one-directional, with no outflows recorded across the funds that posted figures.
Concentration was the story. Two products carried the entire print:
MSBT's contribution accounted for roughly 78% of the day's net intake — consistent with prior episodes in which wirehouse-distributed bitcoin products have anchored quiet sessions while the larger BlackRock and Fidelity vehicles trade flat. BSOL's $3 million top-up extends a steady drip of allocation into spot Solana products that InflowScan data has tracked through June. The absence of any redemption print, even a small one, points to a settled tape without forced selling rather than aggressive new positioning.
Asset Price Analysis
Bitcoin trades at $62,638, down 0.5% over 24 hours and 0.6% on the week, but holding a 13.7% gain across 30 days. The 30-day strength has cooled into a tight weekly range, with price capped below the $63,000 handle and finding support near $62,000 through the back half of the week.
Ether is the relative laggard at $1,692, off 1.1% on the day and 3.7% over seven sessions. The weekly underperformance versus bitcoin extends a pattern InflowScan data has flagged through June, with ETH spot products failing to register the same steady bid that has supported bitcoin and solana funds. The 30-day return of 3.7% trails BTC by roughly ten points.
Solana trades at $68.28, down 2.0% in the last 24 hours but up 9.2% on the week and 15.6% over 30 days — the strongest trailing-month return in the majors. The pullback into Friday's open follows a stretch in which BSOL has logged consistent inflows, suggesting fund-flow demand is leaning into spot weakness rather than chasing strength.
XRP changes hands at $1.13, off 1.6% on the day, with a 1.7% weekly gain and 8.4% over 30 days.
Stablecoin Flows
USDC supply rose by +$61.6M ↑ to $74.9 billion over the last 24 hours, while USDT supply contracted by -$112.4M ↓ to $186.2 billion, according to InflowScan data. The cross-issuer split — USDC mints offsetting roughly half of USDT burns — points to redemption activity in the larger float rather than a broad reduction in on-chain dollar capacity. Net stablecoin supply is down marginally on the day, consistent with a flat-to-slightly-defensive sidelined-capital posture heading into the weekend.
Outlook
Friday's issuer flow data is the immediate watch item. With Thursday's tape settling at a thin $13.4 million on two contributors, a Friday print that breaks back toward eight-figure-per-issuer activity would mark a step up from the current drift; another sub-$20-million day would extend the low-conviction pattern into a second consecutive session.
On price, key levels to watch: bitcoin's $62,000 support has held through the week, with $63,000 acting as near-term resistance. Ether's $1,700 handle is the round-number pivot — a clean reclaim would interrupt the seven-day fade. Solana's $70 level sits just above spot after Friday's pullback.
The MSBT-led flow concentration is worth tracking into next week. If Morgan Stanley's vehicle continues to anchor daily inflows while BlackRock's IBIT and Fidelity's FBTC report flat sessions, the pattern points to wirehouse-channel allocation doing the lifting rather than broad-based institutional rotation. Stablecoin trajectory — particularly whether USDT supply stabilizes — will inform the dry-powder picture for the back half of June.