ETF Flows Recap
Spot crypto ETFs logged -$38.9M ↓ in net outflows during Thursday's settled session, according to InflowScan data. Issuer reports for Friday are still filtering in, so the Thursday tape remains the most complete picture entering the weekend.
The headline figure masks a split tape. Bitcoin products took in modest money at Fidelity and Bitwise while Grayscale's higher-fee BTC product continued to bleed. Solana and Ethereum vehicles did the damage.
The BSOL print stands out. Solana spot has rallied 15.6% over the trailing 30 days, and SOL is up another 9.2% on the week — a redemption of this size against that price backdrop is consistent with profit-taking rather than directional repositioning, though a single session is not a trend. Grayscale's legacy BTC and ETHE products continue to function as the industry's rotation vents, as they have for most of 2026.
Asset Price Analysis
Bitcoin changes hands at $77,358 Friday morning, off 0.9% on the day and 0.6% on the week but holding a 13.7% gain over 30 days. The $77K handle has acted as near-term support through the week; the $80K round number remains the next upside reference.
Ether lags at $2,235, down 1.0% on the day and 3.7% on the week. The relative weakness is notable against the backdrop of ETHE outflows — flow and price are telling the same story on ETH, which is a cleaner read than the SOL divergence.
Solana prints $96.53, up 0.8% on the day and 9.2% on the week, within striking distance of the $100 handle it has not reclaimed since early October. XRP sits at $1.25, up 0.7% on the day and 8.4% on the month, grinding higher without much ceremony.
Stablecoin Flows
USDT supply contracted by roughly -$516M ↓ over the past 24 hours to $180.2B, while USDC was essentially flat at $71.3B, per InflowScan data. A single-day USDT burn of that size is not unusual on a Thursday redemption cycle, but combined with net ETF outflows it suggests dry powder on the sidelines rather than a push into risk.
Outlook
Friday's settled ETF prints, reported Monday morning, will clarify whether Thursday's BSOL redemption was a one-off profit-take or the start of a Solana rotation. Watch the $77K BTC support — a loss opens the door to retesting the $75K area, while a reclaim of $80K would re-engage the breakout narrative that drove the 30-day gain.
Key data points to watch into the weekend: whether USDT supply stabilizes or continues to contract, SOL's behavior at the $100 handle, and ETH's ability to defend $2,200. With no new catalysts on the calendar, flow follow-through will do most of the talking.