Bitcoin and Ether Suffer Outflows as Solana Shines

Crypto exchange-traded funds (ETFs) witnessed a continuation of their cautious trend on Thursday, with bitcoin and ether experiencing notable outflows. According to recent data, bitcoin ETFs recorded a net outflow of $90.19 million, marking the second consecutive day of withdrawals.

The largest contributors to these outflows were Blackrock's IBIT, which posted $38.25 million in exits, followed by Fidelity's FBTC, with $26.02 million lost. Grayscale's GBTC added another $5.47 million in outflows, further exacerbating the trend.

Ether ETFs fared even worse, with total outflows reaching $136.41 million. Blackrock's ETHA led the charge with a sharp $102.31 million withdrawal, while Fidelity's FETH followed with $11.76 million in exits.

However, it's worth noting that some funds did attract fresh capital. Grayscale's Bitcoin Mini Trust saw inflows of $4.66 million, followed by Franklin's EZBC at $4.06 million and Valkyrie's BRRR with $3.17 million.

Solana ETFs provided a rare bright spot in an otherwise gloomy market, driven entirely by Franklin's SOEZ. Trading volume reached $27.81 million, while net assets stood at $876.13 million.