Key Takeaways:
- Bitcoin ETFs logged $223 million inflows for an eighth straight day of inflows, led by Blackrock’s IBIT adding $167 million.
- Ether ETFs saw their first outflow after 10 days, with a $76 million exit.
- XRP ($3.9 million) and Solana ($7.3 million) gain traction as altcoin ETFs continue to provide a decent alternative to the majors.
Ether Streak Ends With $76 Million Outflow as Bitcoin ETFs Charge Ahead
The streak held for bitcoin, but it did not for ether. Crypto ETFs delivered another mixed session on Thursday, April 23, underscoring a market that is still advancing, but no longer in lockstep. Bitcoin extended its run, ether broke ranks, while smaller assets continued to attract selective demand.
Bitcoin ETFs recorded $223.21 million in net inflows, marking an eighth consecutive day of gains. The momentum remains intact, though the composition of flows shows signs of friction.
BlackRock’s IBIT once again led with a commanding $167.49 million in inflows, anchoring the day’s activity. Ark & 21shares’ ARKB followed with $71.22 million, while Morgan Stanley’s MSBT added $9.36 million and Grayscale’s Bitcoin Mini Trust contributed $5.16 million.
Outflows, however, were more visible than in prior sessions. Fidelity’s FBTC saw $16.93 million in outflows, Bitwise’s BITB lost $7.60 million, and Vaneck’s HODL recorded a $5.50 million outflow. Even so, inflows comfortably outweighed redemptions. Trading volume reached $2.36 billion, with net assets climbing further to $102.79 billion.
Ether ETFs told a different story. After ten consecutive days of inflows, the streak came to an end with a $75.94 million net outflow.
Fidelity’s FETH led the declines with a $51.30 million exit, followed by Blackrock’s ETHA at $20.95 million and Grayscale’s ETHE at $10.90 million. There were pockets of demand. Grayscale’s Ether Mini Trust brought in $19.76 million, but it was not enough to offset the broader selling. Additional outflows from 21Shares’ TETH at $9.24 million and Bitwise’s ETHW at $3.31 million reinforced the shift in tone.
Trading volume stood at $747.11 million, with net assets easing to $13.71 billion. The reversal, while notable, follows an extended period of sustained inflows.
Elsewhere, smaller assets showed more stability. XRP ETFs recorded a $3.89 million inflow, driven primarily by Franklin’s XRPZ. Trading activity remained light at $7.69 million, with net assets closing at $1.08 billion.
Solana ETFs posted a stronger relative performance, attracting $7.33 million in inflows. Bitwise’s BSOL led with $6.20 million, while Vaneck’s VSOL added $1.13 million. Trading volume reached $47.38 million, with net assets at $874.13 million.
The divergence is becoming more pronounced. Bitcoin continues to attract consistent institutional demand, while ether’s momentum has paused after a strong run. Smaller assets, meanwhile, are carving out steady but selective inflow patterns. The broader trend remains positive, but the uniformity is fading.
