Flow Tape
The redemption was concentrated in bitcoin's three largest products, with InflowScan data showing IBIT, FBTC, and GBTC accounting for roughly $291.9 million of the negative print. Inflows were broad but small — XRP and Solana funds picked up modest bids, none above $10 million.
- XRPZ (Franklin, XRP): +$9.5M ↑
- FSOL (Fidelity, SOL): +$3.5M ↑
- BSOL (Bitwise, SOL): +$2.3M ↑
- IBIT (BlackRock, BTC): -$192.9M ↓
- FBTC (Fidelity, BTC): -$57.7M ↓
- GBTC (Grayscale, BTC): -$41.2M ↓
The dispersion suggests BTC-specific repositioning rather than a broad crypto-ETF unwind, with alt-product flows holding constructive on the margin.
30-Day Context
Tuesday's print narrows but does not erase the trailing-month tally, which InflowScan data shows at +$776.0M ↑ on a 30-day basis. The 7-day cumulative figure is not yet available pending full settlement of the back week. The single-session redemption is consistent with profit-taking concentrated in the largest BTC vehicle rather than a coordinated exit across issuers.