BTC ETF Outflows Hit $526M as XRP, Solana Funds Each Absorb $49M

Spot Bitcoin ETFs recorded roughly $526 million in net outflows over the past week, marking one of the sharpest quarterly drawdowns for the product category even as BTC spot prices held largely flat. Over the same window, spot XRP and Solana ETFs each pulled in approximately $49 million in net inflows, according to fund-flow data cited by Coinotag — a divergence that points to reallocation rather than a broad exit from crypto exposure.

Ethereum spot ETFs bled an additional $14 million in the same period. While modest in isolation, the simultaneous drawdown in both BTC and ETH-linked products — the two anchor assets of the regulated-wrapper narrative — signals that allocators are trimming concentrated large-cap positions rather than repricing a single asset-specific thesis.

Capital didn’t leave, it rotated into XRP and Solana wrappers

Cumulative net inflows into spot XRP ETFs have reached approximately 754.78 million XRP, pushing the segment’s total market value to roughly $690 million. Bitwise’s XRP ETF leads issuers with about $245.31 million in assets under management, followed by Canary’s XRP ETF at approximately $225.91 million and Franklin’s product at roughly $167.87 million.

Daily flow granularity shows the accumulation pattern is uneven but net positive: XRP funds took in about 14.64 million XRP on June 29, then shed roughly 2.68 million XRP on June 30 and 1.79 million XRP on July 1, before inflows resumed with 6.22 million XRP on July 2. That stop-start cadence is typical of early-stage products still building a stable holder base, but the cumulative trend has remained firmly toward accumulation.

Solana staking wrapper becomes the segment’s single largest product

Solana-linked funds also reflected the improving allocator mood, recording a net inflow of roughly 77,070 SOL on June 29 following a weaker stretch. Bitwise’s Solana staking ETF, trading under the ticker BSOL, now manages approximately $595.88 million in assets, making it the largest single Solana-linked product by size.

The staking structure appears central to that appeal: BSOL passes the network’s native yield through to investors inside a regulated wrapper, differentiating it from a plain spot position. That yield component gives allocators rotating capital out of BTC and ETH an added rationale for choosing SOL exposure over a straight substitution trade.

Price structure still shows downside pressure on BTC

The ETF outflows land against a technical backdrop that remains fragile. BTC’s daily chart was last quoted at $62,374, down roughly 2.00%, with a trend reading of downtrend and RSI(14) at 47.0 — neutral rather than oversold. Pivot sits at $62,533.61, with support levels at $61,101.85, $57,800.19 and $50,986.64, and resistance at $63,707.44, $65,602.26 and $67,369.22.

Broader positioning data shows the long/short split on BTC perpetuals at 64.4% long versus 35.6% short, with funding at +0.0052% favoring longs, while 24-hour spot volume stood near $21.8 billion. The Fear and Greed Index sits at 24, in Extreme Fear territory — a sentiment reading that contrasts with the still-positive funding bias and suggests spot ETF redemptions are outpacing derivatives-market conviction for now.

Read more: 21Shares Files SOL Trust S-1, Joining VanEck in Crowded ETF Queue