Answer Box: US Bitcoin spot ETFs recorded a net outflow of $227 million last week, marking the sixth consecutive week of capital withdrawals, according to SoSoValue. Grayscale Bitcoin Trust (GBTC) led the outflows with $156 million, while total net assets across all Bitcoin ETFs stood at $78.32 billion as of writing.
Bitcoin and Ethereum ETFs Continue to Bleed
The persistent outflows from Bitcoin ETFs highlight ongoing investor caution, with GBTC's cumulative net outflow reaching $27.01 billion. Ark/21Shares Bitcoin ETF (ARKB) also saw $50.16 million exit, while Grayscale Bitcoin Mini Trust (BTC) bucked the trend with a $14.95 million inflow. Bitcoin ETFs now represent 6.19% of Bitcoin's total market cap, with cumulative net inflows still positive at $53.4 billion.
Ethereum spot ETFs fared slightly better, posting a modest $10.05 million net outflow last week. Grayscale Ethereum Mini Trust (ETH) lost $8.82 million and Fidelity's FETH saw $6.57 million withdrawn, but BlackRock's ETHA attracted $13.22 million in inflows. Total net assets for Ethereum ETFs are $9.3 billion, or 4.51% of Ethereum's market cap.
Solana and HYPE ETFs Attract Inflows
In contrast, Solana spot ETFs recorded $7.11 million in net inflows last week, led by Fidelity's FSOL with $3.72 million. Bitwise's BSOL added $2.99 million. Total net assets for Solana ETFs reached $794 million, representing 1.96% of Solana's market cap.
HYPE spot ETFs also saw positive flows, with $27.95 million entering last week. Bitwise's BHYP led at $24.51 million, bringing its cumulative inflows to $118 million. Grayscale's HYPG added $2.17 million. Total HYPE ETF net assets stand at $221 million, or 1.45% of HYPE's market cap.
Market and Geopolitical Developments
Bitcoin slipped below $64,000, trading at $63,991 on OKX, down 0.36% on the day. A new wallet deposited 6.68 million USDC to Hyperliquid and opened 20x short positions on BTC, SOL, and ETH, worth approximately $27 million, $13 million, and $7 million respectively. Such large leveraged shorts could amplify short-term price swings.
Meanwhile, a whale transferred 135.45 million USDC to Aave, likely for DeFi liquidity provisioning. US-Iran talks continue in Switzerland, with US officials working overnight after Iran briefly paused negotiations. The outcome may influence geopolitical risk sentiment and risk assets.
Exchange and Protocol News
Gate exchange led global centralized exchanges in net inflows over the past 7 and 30 days, with $495.84 million and $485.78 million respectively, according to DefiLlama. Bittensor co-founder const announced a decentralization roadmap aiming for full decentralized governance within 18 months, including validator competition, two-way liquidity pools, and voting rights for Alpha token holders.