Institutional Investment is Exiting Bitcoin (BTC) and Ethereum (ETH) and Flowing into This Altcoin!

But Bitcoin ($BTC) is still struggling to recover from the fall that began in October, and the latest sharp sell-off pushed it down to levels of about $60,000.

Altcoins also experienced significant losses along with Bitcoin’s decline, with Ethereum ($ETH) falling below $2,000.

While the downward trend in prices continues, the situation in ETFs remains mixed.

Bitcoin, Ethereum, and $XRP ETFs Seen to Exit!

According to SoSoValue data, Bitcoin, Ethereum, and $XRP ETFs experienced net outflows, while Solana ($SOL) ETFs saw net inflows.

Accordingly, a net outflow of $133.3 million was observed in US spot Bitcoin ETFs.

Bitcoin ETFs were based on daily flows “BlackRock (IBIT) fund outflows of $84” followed. Outflows from 2 million and Fidelity (FBTC) fund were $49,000. paraphrasing 1 million. Similarly, Bitwise (BITB)), Ark Invest (ARKB), Franklin(EZBC); VanEck (“HODL”); Grayscale (GBTC), Gray scale (Mini $BTC], Valkyrie (BRRR), and Invesco (BTCO) fund recorded 0 inflows. ” , ‘I’m sure it is worth reading.

According to SoSoValue data, spot Ethereum ETFs saw a net outflow of $41.8 million.

ETFs were based on fund flows “BlackRock (ETHA) fund outflows of $29 million followed by Fund flows in Ethereum ETCs. Fidelity (FETH) funds outflows of $8.9 million, 9 million – 9million — fund outgoings from the Fund for FIDElities (federal), and Feidello (the financial institution that is funded by an acronym called “Fide L’Eth” are not yet in effect. A total of 2 million, and $3.50 outflows from Invesco (QETH) fund are a result of inveco’s funds being flown by Invensco (“QET”) with the money flowing through InVEsco or QETH.” paraphrasing 7 million. On the other hand, VanEck (ETHV), Grayscale (ETE), Greyscale Mini Trust ($ETH), Bitwise (THW), 21Shares (TETH) and Franklin Templeton (EZET) funds recorded 0 inflows. Paraphrast.

But the outflows from $ETH ETFs come with Ethereum’s price trading below $2,000 and its struggle to regain momentum even though most people expect interest rate cuts later in the year.

$XRP ETFs also fell into negative territory, recording a daily outflow of $2.2 million.

The Situation is Different in Solana!

While Bitcoin, Ethereum, and $XRP ETFs experienced outflows, Solana ($SOL) stood out from the rest.

SoSoValue data show that net inflows of $2 were recorded by US spot $SOL ETFs according to soovalua data. Total inflows are estimated at around $880 million, with 4 million totaling about 880million in flows from .

Bitwise’s BSOL fund led the way with a new capital injection of $1.5 million.

What Does It Mean?

This situation shows that some investors are changing their positions rather than exiting the crypto markets entirely.

The difference between Bitcoin and Ethereum, $XRP and Solana ETFs reflects “the shift in risk preferences” rather than the complete loss of confidence in digital assets, experts said. Despite the crypto industry’s continued development of capital, use cases or other altcoins are still in demand; various uses cases (or other AltcoINs) remain.

*This is not investment advice.

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