Flow Tape

Redemptions concentrated in legacy and lower-fee bitcoin vehicles, while the bid was split across BTC and ETH issuers rather than centered on a single fund. InflowScan data shows the day's dispersion consistent with issuer-level rotation rather than a broad-based exit.

Top inflows:

  • IBIT (BlackRock, BTC): +$10.8M ↑
  • FETH (Fidelity, ETH): +$9.9M ↑
  • MSBT (Morgan Stanley, BTC): +$7.4M ↑

Top outflows:

  • GBTC (Grayscale, BTC): -$66.7M ↓
  • FBTC (Fidelity, BTC): -$17.3M ↓
  • ETHE (Grayscale, ETH): -$9.5M ↓

7-Day Context

Trailing 7-day and 30-day cumulative tallies are not available in this print — settling days remain incomplete across the coverage window. Tuesday's net figure, taken on its own, is a modest redemption day driven by concentration at Grayscale rather than broad issuer participation.