U.S. Spot BTC and ETH ETFs See Nearly $1B in Combined Outflows as Altcoin ETFs Grab Spotlight

• Spot Bitcoin and Ethereum ETFs saw nearly $1B in combined outflows, reversing from early-January inflows.
• Spot XRP and Solana ETFs recorded gains. 

U.S. spot Bitcoin and Ethereum exchange-traded funds (ETFs) saw a sharp outflow on January 21, as Bitcoin ETFs recorded an outflow of around $709 million and about $287 million outflows in Ether funds, marking one of the largest single-day redemptions. When combined, it nears $1 billion, the highest outflows ever since January started. 

While BlackRock’s iShares Bitcoin Trust (IBIT) posted the highest outflows, around $357 million, followed by Fidelity Wise Origin Bitcoin Fund(FBTC)  with $288 million, thirdly ARK 21Shares Bitcoin ETF(ARKB) with $29.83 million outflows, alongside three other funds show outflows. While VanEck Bitcoin ETF(HODL) alone saw positive flows of $6.35 million. With that, the cumulative total net inflow stands at $56.63 billion.  

In Ethereum, iShares Ethereum Trust(ETHA) saw massive outflows of around $250 million, followed by Fidelity Ethereum Fund(FETH) with  $30.89 million, alongside two other funds that also posted outflows. While Grayscale Ethereum Mini Trust(ETH) posted positive flows of around  $10.1 million. Then, the cumulative total net inflow stands at $12.68 billion.

When analyzing the weekly flows of U.S. Spot Bitcoin ETFs, this week marks around $1.19 billion outflows, which is the highest negative flows since the year started, as well as for U.S. Spot Ethereum ETFs, which marks nearly $229.95 million outflows, as per the SoSoValue data. As this reversal marks a shift from early-January inflows to the heaviest Bitcoin and Ethereum ETF outflows seen so far this month.

XRP and Solana ETFs Record Gains

While ETFs tracking Bitcoin and Ethereum recorded massive single-day outflows,  the U.S.Spot XRP and Solana ETFs saw inflows.

The XRP ETFs recorded $7.16 million total net inflow on January 21, which was led by Canary XRP ETF(XRPC) with nearly $834K, alongside two other funds that saw inflows. While Solana ETFs saw totalling $2.92 million in inflows. Which is led by Grayscale Solana Trust(GSOL) with $482K, and two other funds posted inflows. With that, the overall investor sentiment across crypto ETFs remains mixed, with heavy outflows from Bitcoin and Ether funds offset by selective inflows into altcoin products.