Bitcoin, ether, xrp ETFs bleed while Solana bucks outflow trend

• U.S.-listed bitcoin, ether and XRP spot ETFs saw broad net outflows on Feb. 18, signaling institutions are cutting exposure rather than buying the dip.
• Bitcoin spot ETFs shed $133.3 million and ether products lost $41.8 million in a day, even as their funds represent 6.3 percent and 4.8 percent of each asset’s market value, respectively.
• Solana spot ETFs bucked the trend with $2.4 million in net inflows, suggesting investors are rotating within crypto rather than exiting the asset class amid macro uncertainty.

U.S.-listed crypto ETFs are flashing red across the board, with one notable exception.

Bitcoin spot ETFs saw $133.3 million in daily net outflows as of Feb. 18, led by BlackRock’s IBIT, which shed $84.2 million, and Fidelity’s FBTC, which lost $49 million. Total net assets across bitcoin funds stand at $83.6 billion, roughly 6.3% of bitcoin’s market cap, but recent flows suggest institutions are trimming exposure rather than adding on dips.

Ethereum products followed a similar pattern. U.S. ETH spot ETFs recorded $41.8 million in net outflows on the day, with BlackRock’s ETHA losing nearly $30 million. Total net assets across ether funds sit at $11.1 billion, about 4.8% of ETH’s market cap.

The steady bleed comes as ether trades below $2,000 and struggles to build momentum despite broader expectations of rate cuts later this year.

XRP ETFs also slipped into negative territory, posting $2.2 million in daily outflows. Total net assets across XRP funds are just over $1 billion, or roughly 1.2% of XRP’s market cap. Price action in XRP has mirrored the cautious tone, with the token down over 4% on the day.

Solana, however, stood out.

U.S. SOL spot ETFs recorded $2.4 million in net inflows, pushing cumulative inflows to nearly $880 million. Bitwise’s BSOL led with $1.5 million in fresh capital. While modest in absolute terms, the inflow contrasts sharply with the broader risk-off positioning across bitcoin and ether products.

Elsewhere, smaller altcoin ETFs such as LINK saw marginal inflows, but the overall picture remains one of selective exposure rather than broad-based accumulation.

The divergence suggests investors are rotating within crypto rather than exiting entirely. With macroeconomic uncertainty lingering and the dollar firming, ETF flows offer a real-time read on where institutional conviction remains and where it is fading.

• BTC trades near $67,000 and ETH near $1,970, with volatility fading after Feb. 5’s selloff.
• Derivatives show stabilization, with open interest at $15.38 billion and funding positive
• Elevated short-term implied volatility signals caution.
• $218 million in liquidations and 97 of top 100 tokens in the red underscore fragile sentiment.

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