Midweek trading brought turbulence to the digital asset ETF market, as Bitcoin and Ether exchange-traded funds (ETFs) suffered sharp capital outflows totaling over $550 million on Wednesday — effectively ending the brief rally that had lifted market sentiment earlier in the week. Solana ETFs, however, broke away from the bearish trend, pulling in a remarkable $48 million in fresh inflows, a clear signal of growing investor appetite for the emerging Layer-1 blockchain.
Bitcoin ETFs Lead the Sell-Off
Bitcoin ETFs took the biggest hit, recording outflows of $470.71 million — one of the largest single-day withdrawals in recent weeks. Fidelity’s FBTC bore the brunt, losing $164.36 million, followed by Ark & 21Shares’ ARKB, which saw $143.80 million exit the fund. BlackRock’s IBIT and Grayscale’s GBTC added to the downturn, with redemptions of $88.08 million and $65.01 million respectively. Smaller outflows were recorded by Bitwise’s BITB ($6.03 million) and Grayscale’s Bitcoin Mini Trust ($3.43 million).
Despite robust trading activity totaling $7.07 billion, total net assets across all Bitcoin ETFs slipped to $149.98 billion, halting a four-day streak of inflows. The retreat underscores how sensitive investor sentiment remains to short-term market volatility and shifting macro narratives.
Ether ETFs Also Face Pressure
Ether ETFs didn’t fare much better. Total redemptions reached $81.44 million, led by Fidelity’s FETH, which alone saw $69.49 million withdrawn. Grayscale’s Ether Mini Trust and ETHE lost $16.18 million and $12.83 million respectively, while VanEck’s ETHV reported a modest $4.31 million outflow. On the upside, BlackRock’s ETHA managed to buck the trend, attracting $21.36 million in new inflows.
Trading volumes across Ether ETFs stood at $2.43 billion, with total net assets holding relatively steady at $26.60 billion. Still, the broader trend suggests investors are taking a cautious stance toward Ethereum exposure as risk appetite cools.
Solana ETFs Defy the Market Mood
In stark contrast, Solana ETFs emerged as the day’s standout performer. Bitwise’s BSOL attracted a solid $46.54 million in inflows, while Grayscale’s newly listed GSOL added $1.40 million during its first full trading session. Combined daily volume surged to $79.50 million, lifting Solana’s total ETF assets to $432.29 million — nearly doubling from the previous session.
The strong performance highlights the growing investor confidence surrounding Solana’s ecosystem, which has gained traction for its high-speed, low-cost network and expanding DeFi and NFT activity.
While Bitcoin and Ether ETFs cooled off, Solana’s resilience suggests that the next wave of crypto ETF enthusiasm may not revolve solely around the market’s two biggest names. Instead, it could mark the beginning of a broader shift — one where investors increasingly look beyond Bitcoin and Ethereum for the next phase of institutional crypto growth.
