ETF Flows Recap

Spot crypto ETFs absorbed +$77.5M ↑ in Thursday's settled session, according to InflowScan data, with the aggregate figure masking a sharp split within Fidelity's product suite and a clear rotation from bitcoin into ether and solana wrappers.

  • FETH (Fidelity Ethereum): +$56.2M ↑
  • BSOL (Bitwise Solana): +$40.2M ↑
  • ARKB (ARK 21Shares Bitcoin): +$29.7M ↑
  • FBTC (Fidelity Bitcoin): -$83.6M ↓
  • GBTC (Grayscale Bitcoin Trust): -$27.2M ↓

The Fidelity split is the story. Investors pulled $83.6M from FBTC while adding $56.2M to FETH — an unusual within-issuer rotation that InflowScan data shows is consistent with allocation shifts rather than an issuer-specific redemption event. GBTC's $27.2M outflow extends its multi-quarter bleed, and ARKB's inflow partially offset the bitcoin-side selling. Friday's session flows have not yet been reported by issuers; those figures settle overnight and will appear in Monday's brief.

Asset Price Analysis

Bitcoin trades at $79,604, down 0.8% over 24 hours and 0.6% on the week, though it holds a 13.7% gain over 30 days. Ether sits at $2,505, essentially flat on the day but off 3.7% for the week — the weakest weekly performer in the majors despite Thursday's ETF bid.

Solana is the outlier on both axes. SOL trades at $105.79, down 3.0% intraday but up 9.2% on the week and 15.6% over 30 days. The intraday pullback comes after BSOL logged its second-largest inflow day of the month, a divergence InflowScan data shows is more often associated with profit-taking against a strengthening flow bid than with a broader change in positioning. XRP at $1.42 is down 2.3% on the day but holds a 1.7% weekly gain.

Resistance for bitcoin sits at the $80,000 handle, which the tape has failed to reclaim in three sessions. Ether's $2,500 level is the near-term pivot; a failure to defend it would open the $2,450 support zone from mid-August.

Stablecoin Flows

USDT supply expanded by $134.2M over 24 hours to $183.4B, according to InflowScan data, while USDC contracted by $26.9M to $73.9B. The net $107M expansion across the two majors points to modest incremental dry powder entering the system — a marginal positive at the aggregate level but nowhere near the multi-hundred-million daily prints seen during the July rally.

Outlook

Levels to watch into Friday's session: bitcoin's $80,000 reclaim attempt and ether's defense of $2,500. On the flow side, whether Fidelity's within-suite rotation (FBTC out, FETH in) persists into Monday's settled data will indicate whether Thursday's split reflects a discrete allocation shift or the start of a multi-day pattern. BSOL's follow-through is the other tell — a second consecutive inflow day would mark the strongest week for solana ETF demand since the product suite launched, per InflowScan data.

End-of-month positioning may add noise to Friday's tape; month-end rebalancing flows have historically been associated with cross-asset volatility in the final trading session, though the direction is not predictable from the setup alone.