ETF Flows Recap

Spot bitcoin ETFs registered +$100.6M ↑ in net inflows in Monday's settled session, according to InflowScan data. Tuesday's issuer reports have not yet published — figures here reflect the most recent fully-settled tape.

The day's bid came from a familiar trio of newer-vintage products, with ARK 21Shares pulling in the largest single-fund subscription. Grayscale's high-fee legacy trust continued its grind lower, but the inflow side more than absorbed it.

  • ARKB (ARK 21Shares): +$64.0M ↑
  • FBTC (Fidelity): +$57.4M ↑
  • BTC (Grayscale Mini): +$48.1M ↑
  • GBTC (Grayscale): -$81.0M ↓

The mix is consistent with prior episodes of fee-driven rotation rather than fresh directional conviction: dollars leaving GBTC at 1.5% are landing in ARKB and the Grayscale Mini at a fraction of that cost. Stripping the GBTC bleed, gross subscriptions ran near $170 million across the three leading inflow vehicles.

Asset Price Analysis

Bitcoin trades at $62,493, down 2.4% over 24 hours and 0.6% on the week, though still holding a 13.7% gain over the past 30 days. The slide put BTC back below the $63,000 handle it reclaimed late last week, with the prior breakout zone around $61,800 now the level bulls need to defend to keep the monthly trend intact.

Ether is the session's underperformer at $1,659.94, off 3.9% on the day and 3.7% on the week. The move leaves ETH/BTC at fresh local lows and points to continued rotation pressure rather than a broad asset-class drawdown. Solana fell 3.7% to $69.27 but remains up 9.2% on the week and 15.6% on the month — the only majors leg holding a positive seven-day print alongside XRP. XRP sits at $1.11, down 1.8% on the day but up 1.7% week-on-week.

The pattern across the four assets — bitcoin holding its ground best, ether leading the downside, SOL and XRP softer but constructive on longer windows — is consistent with positioning being trimmed rather than the bid being withdrawn outright. The inflow tape into BTC products on Monday supports that read.

Stablecoin Flows

Stablecoin supply contracted modestly over the past 24 hours, with USDC down $358 million to $74.5 billion and USDT down $101 million to $186.1 billion, according to InflowScan data. The combined ~$460 million drawdown is small in context but breaks a stretch of flat-to-rising aggregate supply and bears watching as a proxy for sidelined dollars stepping back.

Outlook

Today's session sets up around two questions. First, whether Tuesday's pending ETF flow tape extends Monday's inflow streak or breaks it — a softer print into a down-tape would be the first sign that the fee-rotation bid is thinning. Second, whether ETH can stabilize against BTC; further widening of the ETH/BTC weakness would historically be associated with continued single-asset rotation rather than broad-based de-risking.

Levels to watch: BTC support at $61,800 (last week's breakout shelf) and resistance back at the $64,000 round number. ETH faces a test at $1,640 — the late-May consolidation floor — with reclaim of $1,720 needed to neutralize the day's break. Stablecoin supply prints later in the session will indicate whether the $460M aggregate drawdown is a one-day blip or the start of a tighter funding backdrop heading into the back half of the week.