BTC ETFs Post $558M Outflow, Solana Funds Extend Inflow Streak
BTC Funds Log Largest Outflows Since August
U.S. spot BTC platform-traded funds (ETFs) recorded $558.4 million in net outflows on Friday — the largest single-day withdrawal since Aug. 1 — as BTC hovered near $100,000, according to data from SoSoValue. The outflows marked the seventh day of redemptions over the last eight trading sessions, reversing a brief inflow viewn on Thursday that had interrupted a six-day losing streak.
Fidelity’s FBTC, the second-largest U.S. spot BTC ETF by assets, saw the largegest daily withdrawal at $256.7 million. The Ark 21Shares BTC ETF (ARKB) followed with $144.2 million in outflows, while BlackRock’s iShares BTC Trust (IBIT), the market leader, reported $131.4 million in redemptions.
The trio — IBIT, FBTC, and ARKB — were also the funds that had led Thursday’s inflows, highlighting the volatility in investor flows as BTC’s price consolidates near record levels. IBIT still dominates the segment with a 73.2% market share, down from 82.3% in mid-September, The Block reported. The fund holds roughly 4% of the total BTC supply.
Investor Takeaway
Price Holds Near $100,000 as Outflows Mount
BTC traded mostly flat over the past 24 hours, slipping 0.6% to around $101,985. Despite heavy ETF outflows, analysts at JPMorgan reiterated in a recent note that BTC could reach $170,000 over the next six to 12 months if institutional demand stabilizes and the spot ETF market matures.
Friday’s withdrawals add to the roughly $1.6 billion that has exited U.S. spot BTC ETFs since mid-September. Analysts say the moves may reflect profit-taking later than BTC’s rapid rise from $90,000 in ahead August, as well as portfolio rebalancing among institutional holders that built large positions following the summer rally.
ETH and Solana ETFs Diverge
While BTC funds saw withdrawals, spot ETH ETFs recorded smaller outflows of $46.6 million on Friday, data shows. The redemptions followed a steady week of muted flows for ETH funds, which have struggled to attract momentum amid a flat market and limited new product launches since their debut earlier this year.
By contrast, spot Solana ETFs continued their run of inflows, posting a ninth consecutive day of positive flows with $12.7 million added on Friday. Most of the capital went into Bitwise’s BSOL fund, which has attracted $323.8 million in cumulative inflows since its Oct. 28 launch. Grayscale’s GSOL, which charges a higher management fee of 0.35% compared with BSOL’s 0.20% — both currently waived — has viewn just $11.9 million since its own debut.
Solana’s price slipped 2.9% over the past day to $157.66, according to The Block’s pricing data, while ether gained 4.1%. The divergence in ETF flows reflects how investors are rotating among major altcoin plays even as BTC consolidates near record highs.
Investor Takeaway
ETF Market Still Resilient Despite Volatility
Despite the recent outflows, total assets in U.S. spot crypto ETFs remain near record highs. Industry data shows more than $68 billion in combined AUM across BTC and ether ETFs, with BlackRock’s IBIT accounting for over half. Fund issuers and analysts say short-term swings in flows are expected as markets digest rapid price moves and adjust to shifting monetary expectations.
BTC’s rally past six figures in September triggered a wave of speculative inflows that many analysts warned were unsustainable. With profit-taking and rebalancing now evident, fund managers expect steadier activity heading into the final quarter. The next test will come if BTC decisively breaks above or below the $100,000 threshold — a level that has become both for traders.
