Bitcoin extended its inflow streak with conviction, adding $223 million. However, the ether rally stalled with an outflow of $76 million, while $XRP and Solana saw decent gains.
Key points to remember:
- Bitcoin ETFs saw inflows of $223 million for an eighth straight day of inflows, led by Blackrock’s IBIT which added $167 million.
- Ether ETFs saw their first outflow after 10 days, with an outflow of $76 million.
- $XRP ($3.9 million) and Solana ($7.3 million) are gaining ground as altcoin ETFs continue to provide a decent alternative to the majors.
Ether streak ends with $76M outflow as Bitcoin ETFs advance
The streak held for bitcoin, but not for ether. Crypto ETFs delivered another mixed session on Thursday April 23, highlighting a market that continues to advance, but is no longer at the same pace. Bitcoin extended its run, ether broke ranks, while smaller assets continued to attract selective demand.
Bitcoin ETFs saw $223.21 million in net inflows, marking an eighth straight day of gains. The dynamics remain intact, even if the composition of the flows shows signs of friction.
BlackRock’s IBIT is once again in the lead with inflows of $167.49 million, 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.
The outflows were, however, more visible than in previous sessions. Fidelity’s FBTC saw an outflow of $16.93 million, Bitwise’s BITB lost $7.60 million, and Vaneck’s HODL saw an outflow of $5.50 million. Despite this, flows far exceeded redemptions. Trading volume reached $2.36 billion, and net assets further increased to $102.79 billion.
Ether ETFs told a different story. After ten consecutive days of inflows, the streak ended with a net outflow of $75.94 million.
Fidelity’s FETH led the decline with an outflow of $51.30 million, 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 that wasn’t enough to offset the increase in sales. Additional outflows from 21Shares’ TETH at $9.24 million and Bitwise’s ETHW at $3.31 million reinforced the change in tone.
Transaction volume was $747.11 million, with net rental assets at $13.71 billion. This reversal, although notable, follows a long period of sustained inflows.
Elsewhere, smaller assets showed more stability. $XRP ETFs saw an inflow of $3.89 million, mainly driven by Franklin’s XRPZ. Business activity remained light at $7.69 million, with net assets closing at $1.08 billion.
Solana ETFs showed stronger relative performance, attracting $7.33 million in inflows. Bitwise’s BSOL leads with $6.20 million, while Vaneck’s VSOL added $1.13 million. Trading volume reached $47.38 million, with net assets of $874.13 million.
The divergence is becoming more and more obvious. Bitcoin continues to attract steady institutional demand, while Ether’s momentum has stalled after a strong advance. Meanwhile, smaller assets create regular but selective flow patterns. The overall trend remains positive, but uniformity is fading.
