ETF Flows Recap
Spot crypto ETFs registered +$22M ↑ in net inflows for Tuesday's settled session, according to InflowScan data. Wednesday's issuer prints have not yet published — the figures below reflect the most recent complete tape.
The session's bid was concentrated in three products, with no material outflows recorded across the reporting complex.
The absence of a single dominant IBIT or FBTC print is the tell here. Recent sessions have leaned on BlackRock's flagship for direction; a $22M day carried by second-tier BTC products and a Bitwise Solana vehicle points to distributed, lower-conviction allocation rather than a concentrated institutional push. InflowScan data shows ETH and XRP products flat across the reporting universe for Tuesday.
Asset Price Analysis
Bitcoin trades at $66,012, down 0.8% over 24 hours and 0.6% on the week, though still up 13.7% on a 30-day basis. The tape is consistent with a market digesting the June rally rather than extending it, with price capped below $67,000 for the past several sessions.
Ether at $1,927 continues to lag. The 7-day print of -3.7% against BTC's -0.6% marks the sharpest relative underperformance in the majors this month, and it is showing up in the flow data: zero ETH product inflows on the day the BTC complex added $16M between ARKB and Grayscale's BTC. The ETH/BTC ratio drift is now a two-week trend.
Solana at $77.56 is the outlier on the upside — up 9.2% on the week and 15.6% over 30 days. Bitwise's BSOL leading the Solana ETF cohort with $5.8M of inflows Tuesday is consistent with, rather than causal to, the spot move. XRP at $1.14 holds a 1.7% weekly gain with no directional ETF flow to reference.
Stablecoin Flows
USDT supply contracted by $68M over the past 24 hours to $184.1B, with USDC also down modestly at $73.3B. The prints are small in aggregate terms but continue a mild deflationary drift in the stablecoin float that has run alongside the softer BTC tape this week. InflowScan data shows no evidence of large-scale mint activity that would signal fresh dry powder building for a bid.
Outlook
Watch for Wednesday's issuer prints to confirm whether the Tuesday distribution pattern — smaller funds leading, IBIT/FBTC quiet — extends or reverses. A return of concentrated BlackRock inflows would be more informative for direction than the headline net number.
Key levels: BTC support sits at the $65,000 handle, with resistance at $67,000 capping recent attempts. ETH continues to trade near $1,927, with the $1,900 level acting as the near-term floor referenced in the recent range. SOL's ability to hold above $75 after a 15%-plus monthly move is the pair to watch for signs of rotation persistence.
Historically, sessions where the ETF flow tape leads with second-tier products rather than IBIT have preceded consolidation rather than trend continuation. This pattern is worth tracking through Thursday's settlement.