Bitcoin & Ethereum ETFs Shed Over $1B – But Solana and XRP See Inflows

Core Insights - U.S.-listed Bitcoin and Ethereum exchange-traded funds (ETFs) experienced over $1 billion in outflows on January 21, indicating a significant shift in investor sentiment during a broader market downturn [1][2][3] - Smaller altcoin-linked products, particularly those associated with Solana and XRP, saw net inflows, suggesting differing institutional positioning amid recent market volatility [1] Bitcoin ETFs - Bitcoin ETFs recorded their largest one-day redemption since November, with outflows coinciding with a rally in conventional risk assets due to improved geopolitical conditions [3] - The iShares Bitcoin Trust at BlackRock had the highest outflow of $356.64 million, followed by Fidelity's FBTC with $287.67 million; Grayscale's GBTC has seen a total cumulative net outflow exceeding $25 billion since its conversion [4] - Despite recent outflows, Bitcoin ETFs have registered weekly net outflows of $1.19 billion, while January remains slightly positive overall with net inflows of $17.56 million [5] Ethereum ETFs - Ethereum ETFs mirrored the selling pressure seen in Bitcoin, with net outflows of $297.51 million on January 21, primarily driven by BlackRock's ETHA, which accounted for over $250 million of the redemptions [6] - Despite the outflows, Ethereum ETFs maintained close to $18.3 billion in assets, representing roughly 5% of Ethereum's market capitalization [7] - Ethereum briefly reclaimed the $3,000 level before declining to around $2,900, reflecting a nearly 13% decrease over the past week [7]