Crypto ETFs Log $272M in Net Outflows in Settled Session; Fidelity's FBTC Leads Redemptions

Flow Tape

• FBTC (Fidelity, BTC): -$131.0M ↓
• IBIT (BlackRock, BTC): -$99.6M ↓
• ETHA (BlackRock, ETH): -$26.9M ↓
• BSOL (Bitwise, SOL): +$20.8M ↑
• XRPZ (Franklin, XRP): +$5.4M ↑
• SOLT (Volatility Shares, SOL): +$4.2M ↑

The tape shows concentrated selling at the top of the BTC complex, with FBTC and IBIT alone accounting for roughly $230 million in combined redemptions. Inflows were notably narrow and skewed to non-BTC products, with Solana funds capturing the only meaningful bid. The dispersion suggests asset-specific repositioning rather than a broad-based ETF exit.

7-Day Context

Thursday's print narrows the trailing 7-day cumulative tally to +$1.86 billion, consistent with a week that has remained net positive despite the latest session's reversal. InflowScan data shows the weekly pace decelerating from earlier in the period, though the trailing window stays firmly in inflow territory.