Bitcoin ETFs Show Fragile Demand
U.S. bitcoin exchange-traded funds attracted just $5.06 million on Thursday, marking another day of volatile institutional flows. Blackrock's IBIT led inflows with $16.79 million, while Grayscale's Bitcoin Mini Trust lost $7.64 million and Invesco's BTCO shed $4.09 million. Trading volume reached $2.28 billion, with net assets at $105.71 billion.
The four-day pattern reveals underlying weakness. Bitcoin ETFs lost $65.40 million on Monday, gained $175.62 million on Tuesday, lost $261.46 million on Wednesday, then barely returned to positive territory Thursday. Across the four sessions, the category fell roughly $146 million, indicating fragile conviction among institutional investors despite their willingness to buy dips.
Ether Selling Intensifies
Ether ETFs lost $60.22 million on Thursday, extending a persistent withdrawal trend. Blackrock's ETHA accounted for $44.39 million of outflows, while Grayscale's ETHE shed $18.28 million. Fidelity's FETH attracted $2.44 million. Trading activity totaled $773.15 million with net assets at $15.29 billion.
Over four days, ether ETFs have lost roughly $250.29 million, nearly twice bitcoin's net outflow over the same period. Monday saw $85.40 million in outflows, Wednesday $129.51 million, and Thursday $60.22 million, making ether the weakest institutional flow story among the two largest crypto assets.
Broader Altcoin Selling Accelerates
Pressure is spreading across smaller crypto assets. Solana ETFs lost $9.82 million on Thursday, marking their ninth consecutive day of outflows. Grayscale's GSOL shed $6.01 million and Bitwise's BSOL lost $3.80 million, with net assets falling to $1.68 billion.
HYPE ETFs showed similar deterioration, with all three active funds recording outflows for a $10.28 million net exit. Zcash ETFs returned to redemptions with a $14.76 million withdrawal from Grayscale's ZCSH.
NEAR Stands Apart
NEAR ETFs continued attracting capital, with Bitwise's NRR bringing in $1.13 million and lifting net assets to $86.14 million. The category has repeatedly drawn money while larger crypto ETFs struggled. XRP was essentially flat with a $104,510 outflow.
Thursday's data underscores a week-long pattern: bitcoin demand remains volatile, ether selling is persistent, and risk appetite for several altcoins is weakening. The persistence of these outflows points toward broader institutional de-risking across crypto asset classes.
