ETF Flows Recap

Spot bitcoin ETFs registered +$142.3M ↑ in net inflows for Monday's settled session, with no product on the tape posting a redemption, according to InflowScan data. Tuesday's issuer reports have not yet been published; the numbers below reflect the most recent fully-settled day.

Fidelity's FBTC did the heavy lifting, drawing more than three-quarters of the day's net take. ARK's ARKB and Morgan Stanley's MSBT rounded out the top three, both smaller in size but notable for continuing to attract creations rather than sitting flat.

  • FBTC (Fidelity): +$111.9M ↑
  • ARKB (ARK Invest): +$14.2M ↑
  • MSBT (Morgan Stanley): +$11.2M ↑

The absence of any reported outflow across the twelve-fund bitcoin cohort is the more informative data point. On days when BTC drifts lower on spot, redemptions from GBTC or a smaller issuer typically pare the net figure. Monday's clean tape is consistent with allocator behaviour rather than tactical trading — inflows concentrated at Fidelity and a wirehouse-branded product (MSBT) point to routed model-portfolio flow rather than fast-money positioning.

InflowScan data shows Ethereum and Solana issuers had not reported by the Monday settlement cut. That coverage will backfill into Tuesday morning's tape and be reflected in Wednesday's pre-market brief.

Asset Price Analysis

Bitcoin trades at $64,336 into Tuesday's open, off 0.3% on the day and 0.6% on the week, but holding a 13.7% gain over 30 days. The spot tape has cooled while flows have not — a divergence more consistent with consolidation after the mid-month push than with distribution.

Ether lags at $1,903, down 3.7% on the week and the weakest major on a seven-day basis. Solana is the standout, at $76.38 and up 9.2% over seven days and 15.6% over 30. XRP holds the $1.00 handle, up 8.4% on the month.

The ETH/BTC ratio has slipped as SOL has extended, a rotation pattern InflowScan has flagged across recent sessions. Whether Tuesday's ETH issuer prints show redemptions or clean creations will help clarify whether the ether underperformance is repositioning or broader risk trimming.

Stablecoin Flows

USDC supply expanded by a nominal $3.8M in the last 24 hours to $72.0B, while USDT contracted by $27.0M to $183.0B, according to InflowScan data. Net change across the two majors is effectively flat. Dry powder is neither building meaningfully nor being drawn down — a neutral read that supports the consolidation framing on spot.

Outlook

Levels to watch on Tuesday: BTC has held a tight band around $64,000–$65,000 for the past several sessions; a break either side would set the tone into the New York cash open. On the flow side, Tuesday's issuer prints (published overnight and reflected in Wednesday's brief) will show whether FBTC's Monday take was one-off routing or the start of a multi-day pull. Ether issuer flows are the key tell — a second consecutive session of ETH product redemptions would harden the rotation-into-SOL narrative; a bounce back to net creations would argue Monday's absence of ETH data was a coverage artefact rather than a demand signal.