ETF Flows Recap

Spot crypto ETFs registered -$667M ↓ in net outflows in Friday's settled session, the most recent complete issuer tape, according to InflowScan data. Monday's figures remain in settlement and will print in tomorrow's brief.

Redemptions concentrated at the top of the bitcoin complex. BlackRock's IBIT lost -$246.8M ↓, with Fidelity's FBTC close behind at -$212.4M ↓. On the ether side, BlackRock's ETHA shed -$80.1M ↓. The pairing of IBIT and FBTC at the top of the outflow table points to broad-based issuer redemptions rather than product-specific rotation.

The ledger was not uniformly negative. XRP products took in modest subscriptions, led by Franklin's XRPZ at +$5.6M ↑ and Canary's XRPC at +$920K ↑. Dollar amounts are small, but the directional split — XRP in, BTC out — is consistent with the relative price tape: XRP up 1.7% over seven sessions, bitcoin down 0.6% over the same window.

  • Top outflows: IBIT -$246.8M ↓, FBTC -$212.4M ↓, ETHA -$80.1M ↓
  • Top inflows: XRPZ +$5.6M ↑, XRPC +$920K ↑

Asset Price Analysis

Bitcoin opens the week at $77,804, off -0.8% ↓ on the day and -0.6% ↓ over seven sessions. The 30-day frame tells a different story: BTC is up +13.7% ↑, placing the current pullback inside a still-constructive medium-term tape. Price holds the $77,000 handle; the $75,000 round number sits as the next observable support below.

Ether trades at $2,284, up +0.4% ↑ on the session but down -3.7% ↓ over seven days — the weakest major on the weekly frame and the asset absorbing Friday's largest single-fund ETH redemption. Solana at $94.05 is the standout on both weekly and monthly windows, up +9.2% ↑ and +15.6% ↑ respectively, outperforming the two majors despite no net SOL ETF subscriptions in the Friday tape. XRP sits flat at $1.25, holding its recent range.

The flow–price divergence is the live question entering Monday: issuer redemptions totaling two-thirds of a billion dollars sit against a bitcoin tape only 0.8% lower. That pattern is consistent with mechanical rebalancing or fund-level profit-taking rather than a broader risk-off bid flipping to offer.

Stablecoin Flows

USDT supply contracted -$331M ↓ over the past 24 hours to $179.3B, with USDC down -$227M ↓ to $71.6B, according to InflowScan data. The combined half-billion-dollar reduction in dollar-equivalent stablecoin float runs alongside the ETF redemption tape and points to modest net deleveraging rather than fresh capital staging on the sidelines.

Outlook

Monday's issuer flow prints, due overnight in tomorrow's pre-market brief, are the first read on whether Friday's $667M redemption was a Friday-specific rebalance or the opening of a sustained outflow sequence. Two consecutive sessions of nine-figure IBIT and FBTC exits would carry a different weight than a single-session move.

Price-level watch items: BTC's $77,000 handle on the downside and the recent $80,000 pivot on the upside. ETH's seven-day underperformance leaves $2,250 as the near-term support reference. Stablecoin supply trajectory bears monitoring — a second day of combined USDT/USDC contraction would strengthen the deleveraging read.