ETF Flows Recap
Spot crypto ETFs absorbed +$33.9M ↑ in Tuesday's settled session, according to InflowScan data. Fidelity dominated both sides of the asset ledger: FETH led with +$28.6M ↑ and FBTC added +$24.5M ↑. The lone material outflow came from Grayscale's Solana product GSOL at -$19.2M ↓, consistent with the fund-conversion rotation pattern that has dogged Grayscale wrappers since launch.
Issuer reports for Wednesday's session have not yet settled, so the Tuesday figures are the most recent full read. The concentration — two Fidelity tickers accounting for essentially all gross inflows — points to single-sponsor routing rather than broad-based demand across the issuer set. InflowScan data shows this is the third consecutive settled session in which Fidelity products have appeared in the top two inflow slots.
Across the Solana cohort, GSOL's redemption contrasts with SOL spot strength, where the token has rallied 9.2% on the week. That divergence is consistent with holders rotating out of the higher-fee Grayscale wrapper into cheaper competitors or spot, rather than reducing SOL exposure outright.
Asset Price Analysis
Bitcoin trades at $81,342, up 0.5% on the day and down 0.6% on the week. The 30-day picture remains constructive at +13.7%, with price holding the $80K handle through the overnight session. Near-term resistance sits at the $82K round number, with support at the $80K level that has held on multiple intraday tests over the past week.
Ether changed hands at $2,361, flat on the day but down 3.7% on the week — the weakest performer among the majors on a seven-day basis. The ETH/BTC cross continues to grind lower, a pattern that has persisted through October despite Fidelity's FETH leading flows on Tuesday.
Solana at $102.72 remains the standout, up 1.4% on the day and 9.2% on the week. The $100 handle has flipped from resistance to support over the past three sessions. XRP traded at $1.32, down 0.5% on the day but holding a 1.7% weekly gain and 8.4% monthly advance.
Stablecoin Flows
USDC supply ticked up by +$46.7M ↑ to $71.3B, while USDT contracted by -$289.5M ↓ to $181.6B, according to InflowScan data. The net stablecoin aggregate turned mildly negative on the day — a modest drain of dry powder that is more consistent with routine redemption activity than with directional de-risking.
Outlook
Wednesday's session sets up around Bitcoin's defense of $80K and whether Solana can extend above $103 to challenge the $105 area. On the flow side, watch whether Wednesday's settled numbers — reporting Thursday morning — confirm the Fidelity-led routing pattern or whether BlackRock's IBIT and ETHA re-enter the leaderboard. A continued GSOL outflow against stable or rising SOL price would reinforce the wrapper-rotation read rather than any shift in underlying appetite.
Key data points to watch: USDT supply trajectory for any acceleration in the drain, which historically has been associated with capital exiting crypto rails entirely rather than rotating between assets; and whether ETH can arrest its relative underperformance versus BTC and SOL after a 3.7% weekly loss.