Institutions Are Switching From Bitcoin to Altcoins! They Are Selling BTC, Buying Ethereum and This Altcoin!

While the rise in Bitcoin has shifted to Ethereum and altcoins in recent days, this situation has also been reflected in ETFs.

At this point, Bitcoin ETFs ended their 13-day entry streak yesterday and experienced an exit today.

While strong inflows in Ethereum ETFs continued, the Solana ETF also recorded significant inflows.

According to data, US spot Bitcoin ETFs experienced net outflows of $68 million the previous day.

This means Bitcoin has experienced a rally for the second consecutive trading day, according to Farside Investors.

Bitwise's BITB fund and ARK Invest's ARKB fund saw net outflows of $42.3 million and $33.2 million, respectively.

Grayscale's GBTC fund, in comparison, saw net inflows of $7.5 million.

Other ETFs saw no net inflows.

Ethereum Logins Continue! The previous day, US spot Ethereum (ETH) ETFs recorded a net inflow of $533.8 million.

According to Farside Investors data, ETH ETFs recorded inflows for the 13th consecutive trading day.

Specifically, BlackRock's ETHA fund saw $426.2 million in inflows, Fidelity's FETH fund saw $3.5 million, and Grayscale's ETH fund saw $7.26 million.

Other ETFs saw no inflows or outflows.

Solana ETF Sees Significant Inflow! While the Solana ETF attracted attention as the first Solana staking ETF approved by the US SEC, it was reported that the ETF had a net inflow of $12.6 million.

According to Farside Investors data, $12.6 million inflows were made into the REX Osprey Solana Staking ETF the day before.

Total inflows to date have reached $105.4 million. *This is not investment advice.

Continue Reading: Institutions Are Switching From Bitcoin to Altcoins! They Are Selling BTC, Buying Ethereum and This Altcoin!.

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