Bitcoin ETFs saw outflows while other crypto ETFs drew inflows

Spot bitcoin ETFs lost a net $64 million on Monday, even as spot ETFs for ether, XRP, Solana and Hyperliquid pulled in fresh cash. Ether funds gained $22.5 million, Hyperliquid $17.2 million, and the XRP and Solana funds about $2.8 million each.

The altcoins ran ahead on the day, with XRP up about 7%, Solana 6% and Hyperliquid 11%, suggesting a rotation out of bitcoin and into other tokens. On price action alone the flows followed the tape.

Scale matters: bitcoin ETFs still hold about $83 billion in assets, compared with roughly $10 billion for ether and around $1 billion each for the XRP, Solana and Hyperliquid products.

The outflow was concentrated in Grayscale's GBTC, which lost $124 million, while BlackRock's IBIT took in $66 million. Strip out GBTC and bitcoin ETFs had an ordinary session; if altcoin ETFs keep drawing inflows once GBTC's drag fades, the rotation may be real, otherwise Monday could prove a one-day blip.

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