Ethereum ETFs See Daily Inflows as Bitcoin and Solana Face Outflows

US spot crypto ETFs saw a divergence in capital flows on October 5. While Bitcoin and Solana funds recorded net outflows, Ethereum products bucked the trend by attracting net new capital. XRP products remained neutral, recording no net flow for the day.

This daily snapshot contrasts with the broader weekly trend reported by SoSoValue for the week ending in early October. During that period, Bitcoin funds secured $241.09 million in net inflows, marking their third consecutive week of positive momentum. This brought the cumulative inflows for Bitcoin ETFs since their 2024 launch to approximately $57.8 billion.

In contrast, Ethereum ETFs saw $138.02 million in net outflows over the same weekly period, reversing a previous week that had seen $690 million in inflows. This shift brought Ethereum's year-to-date inflows to approximately $1.5 billion.

Other assets showed mixed results for the week. Solana and XRP products maintained their inflow streaks, gaining $2.43 million and $4.74 million respectively. Meanwhile, Zcash ETFs recorded their first weekly outflow, totaling approximately $94 million.

During the period covered by the data, Bitcoin traded between $85,000 and $86,000. The research suggested that recent weekly patterns indicate a shift in investor sentiment, with capital favoring Bitcoin as its market dominance continues to grow.

The research noted that Ethereum's recent outflows could prompt questions regarding its market position relative to Bitcoin. However, the data also highlighted that demand for Ethereum can shift rapidly, as evidenced by the previous week's performance. Analysts warned that a continued rotation of capital toward Bitcoin and other established assets could introduce increased volatility to the broader crypto market in the near term.