ETF Flows Recap

Spot bitcoin ETFs took in +$64.7M ↑ in Monday's settled session, according to InflowScan data. Tuesday's issuer reports have not yet published; the picture below reflects the most recent settled tape.

Grayscale dominated both sides of the ledger. The firm's low-fee mini-trust BTC absorbed +$42.3M ↑, while legacy GBTC bled -$44.5M ↓ — a near-perfect internal wash consistent with the fee-driven rotation pattern that has defined GBTC redemptions for most of 2026. ARK's ARKB took the day's cleanest external bid at +$33.0M ↑, and Morgan Stanley's MSBT logged +$11.0M ↑.

  • BTC (Grayscale mini): +$42.3M ↑
  • ARKB (ARK): +$33.0M ↑
  • MSBT (Morgan Stanley): +$11.0M ↑
  • GBTC (Grayscale): -$44.5M ↓

Ethereum, Solana and XRP product tapes have not settled for Monday in the InflowScan feed, leaving BTC as the sole complex with a full flow read. The absence of ETH data is notable given ether's 3.7% weekly slide — flow confirmation will land in Wednesday's brief.

Asset Price Analysis

Bitcoin trades at $63,403, off 1.0% on the day and 0.6% on the week, though the 30-day tape remains up 13.7%. Price is capped below the $64,000 handle after failing to reclaim it in the overnight session; the mid-$62,000s have acted as support through the past week.

Ether is the session's soft spot at $1,780.67, down 1.0% intraday and 3.7% over seven days. The break below $1,800 leaves ETH the only major without a positive weekly print, and the underperformance versus BTC has widened the ETH/BTC ratio move that began in late June.

Solana holds up better at $81.36, down 0.7% on the day but still +9.2% ↑ on the week and +15.6% ↑ on the month — the strongest 30-day tape in the top four. XRP sits at $1.13, down 1.7% intraday but up 1.7% on the week.

Stablecoin Flows

Dry powder built modestly overnight. USDC supply expanded by +$203M ↑ to $73.2B, with USDT adding +$30M ↑ to $184.2B, according to InflowScan data. The USDC skew is consistent with U.S.-hours issuance activity and points to sidelined capital rather than an active bid, given the softer spot tape.

Outlook

The setup entering Tuesday's U.S. session is one of muted spot demand against a still-constructive one-month backdrop. Key data points to watch:

  • Whether Tuesday's settled ETF flow print (published Wednesday morning) confirms the ARKB and Grayscale-mini bid, or whether Monday's $64.7M was a one-session anomaly.
  • ETH price behavior around $1,780 — a second daily close below would extend the weekly underperformance versus BTC.
  • BTC's ability to reclaim the $64,000 handle. Failure to do so through the U.S. cash session historically has been associated with a retest of the mid-$62,000 support zone.
  • Solana's relative strength — a fifth straight session of BTC underperformance would firm up the rotation read.
  • Stablecoin issuance pace. A continued USDC expansion without a corresponding spot bid would suggest capital is staging, not deploying.