TLDR
- Bitcoin ETFs saw $165.8 million in net outflows on February 19, primarily driven by a large redemption from BlackRock’s IBIT.
- Ethereum ETFs experienced $130.1 million in net outflows, with BlackRock’s ETHA seeing the largest decline.
- Solana ETFs recorded net inflows of $6.0 million, indicating a selective interest in alternative layer-1 networks.
- XRP ETFs gained $4.05 million in net inflows, led by Franklin’s XRPZ and Bitwise’s XRP products.
- The continued redemptions from Bitcoin and Ethereum ETFs highlight cautious institutional sentiment in the broader crypto market.
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U.S.-listed cryptocurrency exchange-traded funds (ETFs) experienced further pullbacks on February 19, as Bitcoin and Ethereum products saw substantial net redemptions. Bitcoin ETFs saw about $165.8 million in outflows, while Ethereum ETFs posted losses of around $130.1 million. However, funds linked to Solana and XRP recorded net inflows, signaling selective investment choices within the market.
Bitcoin ETFs See Large Redemptions
Bitcoin ETFs registered heavy outflows on February 19, with BlackRock’s IBIT leading the decline. The fund experienced a redemption of $164.1 million, representing the bulk of the total outflows. Smaller withdrawals were observed across other Bitcoin-linked products, with most issuers showing no significant changes in their flows.
Despite periods of price stabilization, institutional investors remain cautious, pulling funds from the largest digital assets. These continued redemptions suggest a lack of short-term confidence in Bitcoin’s price movement, especially as it struggles to regain upward momentum after recent volatility.
Ethereum ETFs also experienced a decline in net inflows, with $130.1 million exiting the market. BlackRock’s ETHA saw the largest pullback, with redemptions of approximately $96.8 million. Other products, including Fidelity’s FETH and those linked to Grayscale, also recorded losses.
The scale of these outflows signals a broader risk reduction in Ethereum exposure. After seeing some inflows in earlier sessions, the renewed redemptions reflect a fading confidence in Ethereum’s potential for a near-term breakout. These trends indicate that institutional investors are pulling back from Ethereum as well, mirroring Bitcoin’s struggles.
Crypto ETFs Focus Shifts to Solana and XRP
In contrast to the pullback in Bitcoin and Ethereum products, Solana ETFs saw modest but positive inflows. The largest contributor was Bitwise’s BSOL, with a total of $6.0 million in net inflows. Other Solana-focused funds also recorded minor allocations, indicating a targeted interest in alternative layer-1 networks.
XRP ETFs followed a similar pattern, with net inflows of about $4.05 million on February 19. Franklin’s XRPZ and Bitwise’s XRP-linked products led the inflows, while Grayscale’s vehicle remained stable. These gains suggest investors are positioning themselves selectively, focusing on assets with perceived potential in a market marked by uncertainty.
