Key Takeaways
- •Institutional capital concentrated most heavily in Ethereum ETFs, which posted the strongest inflows.
- •Bitcoin demand remained positive but cautious, with uneven flows between issuers.
- •Solana ETFs saw net selling, breaking from the broader inflow trend across ETH and XRP.
Instead of a broad-based risk-on or risk-off move, investors picked winners and rotated away from others — a sign that allocation strategies are becoming more selective as the year winds down.
Ethereum Takes Center Stage
The strongest signal came from Ethereum products. For the fourth session in a row, ETH ETFs recorded meaningful net inflows, adding $60.82 million in new capital. That kind of streak suggests portfolio managers are building long-side exposure rather than making short-term tactical trades. Even with the market cooling from its recent highs, Ethereum appears to be where institutional conviction is clustering right now.
Bitcoin Demand Slows, but Doesn’t Disappear
Bitcoin funds also ended the day in positive territory, with a combined $21.12 million coming in. Still, the breakdown inside the category shows hesitation. Fidelity’s FBTC logged net outflows — the only BTC product to see red — which implies that Bitcoin investors are reallocating among issuers rather than pulling out of the asset entirely. The modest totals point to cautious positioning rather than a return to aggressive accumulation.
XRP Strength Continues as Solana Momentum Cools
XRP funds also saw firm demand, securing $21.81 million in net inflows and extending what has been a strong opening month for the asset in ETF form. Not every altcoin shared that enthusiasm, though. Solana-linked ETFs moved in the opposite direction, finishing the day with $8.1 million in net outflows. Whether that reflects profit-taking or deeper uncertainty remains unclear, but it stands out sharply against the inflow trend across other major assets.
The mix of numbers makes one thing clear: in the current phase of the cycle, institutions are not buying crypto as a single trade. They are choosing specific assets based on short- and medium-term advantages, rather than treating the sector as a monolithic risk category.