ETF Flows

Spot crypto ETFs registered -$13M ↓ in net outflows in Tuesday's settled session, according to InflowScan data. Issuer reports for Wednesday have not yet been published, and Tuesday's fund coverage remains partial as filings continue to trickle in.

Bitwise's BSOL drove the redemption tape, and the single-fund concentration is consistent with SOL-specific repositioning rather than a broad-based exit — SOL spot has run 15.6% over the trailing 30 sessions and 9.2% on the week, a backdrop that historically coincides with profit-taking through the largest liquid vehicle.

  • Top outflow: BSOL (Bitwise) -$18.1M ↓
  • Top inflow: BTC (Grayscale) +$5.1M ↑

The Grayscale BTC mini-trust logged the day's lone notable creation on the bitcoin side, though the figure is modest against the complex's recent run rate. With the majority of BTC and ETH issuers still unreported for Tuesday, the -$13M print is a floor, not a final read.

Asset Price Analysis

Bitcoin trades at $64,508, up 0.9% over 24 hours but off 0.6% on the week. The 30-day gain of 13.7% remains the anchor of the story — spot has repriced meaningfully higher without a corresponding acceleration in issuer flows, a divergence that InflowScan data has flagged across the trailing two weeks.

Ether sits at $1,914.82, down 0.4% intraday and 3.7% over seven sessions. ETH is the laggard of the majors on a weekly basis and the only large-cap in the red across that horizon. Solana at $73.95 and XRP at $1.08 continue to outperform, with SOL's 9.2% weekly move and XRP's 1.7% weekly gain suggesting rotation down the market-cap curve.

Key levels into Wednesday's session: BTC faces near-term resistance at the $65,000 handle it has failed to defend on two prior attempts this week. ETH is rangebound between $1,900 support and $1,960 resistance. A break below $1,900 on ETH would mark a fresh weekly low.

Stablecoin Flows

USDC supply contracted by -$1.28B ↓ over 24 hours to $72.4B, according to InflowScan data — the sharpest one-day drawdown in the coin's supply this month. USDT edged lower by $33M to $183.9B, effectively flat. The USDC redemption is outsized against the muted ETF tape and, historically, has been associated with institutional cash returning off-chain rather than fresh risk deployment.

Outlook

The first read on Wednesday's issuer flows lands tomorrow morning and will clarify whether Tuesday's -$13M print reflected a broad drawdown or was skewed by the BSOL redemption. Watch BTC's response at the $65,000 shelf and ETH's ability to hold $1,900 through the US session. On the flow side, whether IBIT and FBTC print creations or redemptions for Tuesday will determine if the settled tape shifts materially from the current partial figure. USDC supply direction into Thursday will indicate whether the $1.28B contraction was a one-session redemption or the start of a broader drawdown.