Flow Tape

The day's tape was narrow and BlackRock-heavy. IBIT and ETHA together accounted for $91.6 million of the $94.3 million net outflow, leaving the rest of the complex effectively flat. Inflows were scattered across smaller ETH, SOL, and XRP products with no offsetting bid of size.

  • ETHB (BlackRock, ETH): +$4.4M ↑
  • FSOL (Fidelity, SOL): +$3.2M ↑
  • XRPZ (Franklin, XRP): +$1.5M ↑
  • IBIT (BlackRock, BTC): -$60.9M ↓
  • ETHA (BlackRock, ETH): -$30.6M ↓
  • FBTC (Fidelity, BTC): -$10.0M ↓

30-Day Context

InflowScan data shows the 30-day cumulative net flow stands at +$1.9 billion, meaning Wednesday's print trims but does not threaten the trailing monthly tally. The session is consistent with single-issuer rebalancing rather than a broad-based exit, with non-BlackRock products posting only modest moves in either direction.