ETF Flows Recap

Preliminary InflowScan data for Tuesday's settled session shows spot crypto ETFs registered -$2.5M ↓ in net outflows, though the figure reflects a partial tape. None of the 41 tracked spot products across BTC, ETH, SOL and XRP wrappers have posted their end-of-day flow files as of publication, and the sole reported line came from Bitwise's BSOL at -$2.5M ↓. Full settlement typically clears by mid-morning New York time, and the headline number should be treated as directional rather than definitive.

The absence of the majority of issuer files means the more useful read is what did not happen: no large single-fund print has hit the tape, which is consistent with a low-conviction session heading into the mid-year mark. IBIT, FBTC and ETHA — the three funds that typically set the daily narrative — remain outstanding.

  • BSOL (Bitwise): -$2.5M ↓

Context from the prior week points to a market that has been absorbing more than it distributes at the BTC complex level, with Bitcoin's 30-day gain of +13.7% broadly tracking sustained ETF sponsorship. The Solana tape has been the standout on price (+15.6% over 30 days) despite today's small BSOL redemption, suggesting the outflow is fund-specific rather than an asset-class signal.

Market Overview

Crypto majors enter the July 1 session in a holding pattern. Bitcoin sits at $58,650, unchanged on the day and down 0.6% on the week, capped below the $60,000 handle it last defended in mid-June. Ether trades at $1,571, also flat intraday but softer on the week at -3.7%. Solana continues to lead the majors on relative strength, up 1.7% in the last 24 hours and +9.2% over seven days.

Asset Price Analysis

Bitcoin remains rangebound between roughly $58,000 support and the $60,000 resistance shelf that has capped every intraday attempt over the past week. The flat 24-hour tape into month-end is consistent with positioning rather than directional conviction — desks squaring books for the quarter close rather than adding risk.

Ether's -3.7% weekly print stands out against a BTC tape that is essentially flat over the same window. The ETH/BTC cross has slipped for the third consecutive week, and until ETHA flows resume a consistent bid, the pair looks vulnerable to further drift. Ether needs to reclaim $1,620 to unwind the recent breakdown; failure to defend $1,550 opens the March range.

Solana at $74.94 is the cleanest performer on the tape by momentum, with a 30-day gain of +15.6%. The BSOL outflow does not fit that pattern, which is worth flagging: single-fund redemptions in a strongly performing asset historically point to rotation between vehicles rather than exit from the trade. XRP at $1.04 holds a +8.4% monthly gain but stalled this week, consistent with the broader mid-cap consolidation.

Stablecoin Flows

Aggregate stablecoin supply contracted meaningfully over the last 24 hours, with USDC down -$437.6M ↓ to $73.4B and USDT down -$322.2M ↓ to $184.4B, per InflowScan data. Combined outflow of roughly $760M in a single session marks the second consecutive day of supply contraction and points to dry powder being drawn down rather than built up. Historically, back-to-back supply prints of this magnitude have been associated with capital exiting the on-chain perimeter rather than repositioning within it.

Outlook

The immediate watch item is issuer flow settlement over the next several hours. If the pending IBIT, FBTC and ETHA files land inside a plus-or-minus $50M band, the flat price tape reads as consolidation. A larger single-fund print in either direction would be the first real signal since last week's data.

Levels to watch: BTC $60,000 as the near-term ceiling and $58,000 as the pivot; ETH $1,550 as the line that has to hold to keep the March range intact; SOL $76 as the level that would extend the 30-day trend. On the macro calendar, the July 1 open marks the start of Q3, and quarter-turn flows into ETF wrappers historically show a modest bias in the first five sessions — worth monitoring as the tape reopens.