With macroeconomic factors and geopolitical tensions guiding the market’s direction over the past few weeks, major inflows and outflows have been observed across Bitcoin and Ethereum ETFs, as well as Solana and XRP ETFs. A direct comparison between Bitcoin and Ethereum ETFs reveals a modest correlation in capital flows, suggesting similar investor behavior between the two assets. In contrast, XRP and Solana ETFs have experienced relatively subdued activity, likely impacted by persistent market volatility and a prevailing risk-off sentiment among investors.
Bitcoin And Ethereum ETF Performance This Past Week
Data from SoSoValue shows that Spot Bitcoin ETFs have seen stronger inflows than outflows since the start of last week. On April 6, Bitcoin ETFs posted their largest single-day inflow since the beginning of March, with more than $471.3 million flowing into these investment products. BlackRock’s IBIT had led this massive inflow with approximately $181.9 million. This was followed by Fidelity’s FBTC, which recorded inflows of about $147.3 million.
Following this, Bitcoin ETFs saw sharp outflows for two consecutive days, with $159.05 million withdrawn on April 7 and another $125.55 million leaving the fund on April 8. The decline in flows coincided with the US-Iran ceasefire announcement, which ironically should have bolstered market sentiment and yielded more positive results. However, the outflows continued, with Fidelity’s FBTC recording the highest outflows, followed by Grayscale’s GBTC and BlackRock’s IBIT.
On April 9 and 10, investors appeared to shift significantly, likely due to easing geopolitical pressures. This change was reflected in strong demand, with Bitcoin ETFs recording total inflows of more than $598.5 million on both days. However, the rebound proved short-lived. As of today, April 13, the funds have turned negative again, recording more than $291.1 million in outflows.
Similar to Bitcoin ETFs, Ethereum Spot ETFs have also recorded more inflows than outflows since last week. On April 6, the ETF posted its largest inflow since March 17, with more than $120.24 million entering the fund. However, this momentum was quickly reversed. The next two days saw notable outflows totaling $83.3 million, with most of these withdrawals coming from Fidelity’s FETH and BlackRock’s ETHA.
Since this decline, Ethereum ETFs have returned to positive territory, recording three consecutive days of inflows totaling more than $159.5 million. The flow patterns observed across both Bitcoin and Ethereum ETFs indicate a similar trend, with investors adjusting their exposure in response to market conditions.
How Solana And XRP ETFs Have Fared
Compared with Bitcoin and Ethereum ETFs, XRP and Solana ETFs have experienced relatively muted investor demand. XRP ETFs, in particular, have attracted only about $13.8 million in total inflows since last week, underscoring their reduced demand.
On April 6, XRP ETF recorded zero flows, followed by modest inflows of $3.32 million on April 7. Activity stalled again on April 8, with zero flows, before a slight reversal on April 9, when the funds posted an outflow of $671,160. Momentum improved briefly on April 10, as XRP ETFs recorded their largest inflow since early February, with more than $9.09 million entering the funds, followed by an additional $1.46 million the next day.
In contrast, Solana ETFs have recorded total inflows of just $11.69 million since last week, reflecting relatively low participation. April 6 and 7 saw modest positive flows totaling over $1.17 million. This was followed by a sharp reversal, with outflows exceeding $17 million, before activity declined again on April 9 with zero flows.
Demand briefly returned on April 10, when the fund attracted another $11.45 million, marking its highest inflow since early March. Overall, recent activity in both altcoin ETFs stands in stark contrast to investor behavior in Bitcoin and Ethereum ETFs, suggesting a more cautious stance toward altcoins and comparatively weaker demand.
Featured image from Medium, chart from Tradingview.com
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