Crypto Morning Daily
Crypto ETFs broadly declined in yesterday’s session, reflecting weakness across major digital assets, but investor flows remained constructive. Bitcoin ETFs fell roughly -2.5% on average, in line with spot price action, yet attracted significant capital with approximately +$659 million in net inflows, led by IBIT (+$297 million) and GBTC (+$102 million), signaling continued institutional accumulation. Ethereum ETFs outperformed on a relative basis, declining -2.23% on average while drawing +$130 million in net inflows, suggesting steady investor demand. In contrast, Solana ETFs experienced sharper volatility, falling -4.71% on average with more modest inflows of +$33.7 million, while XRP ETFs were the weakest segment, declining -6.40% on average and generating only +$4 million in net inflows. Overall, despite negative price performance across Bitcoin, Ethereum, Solana, and XRP products, the persistence of positive net flows indicates dip-buying behavior and continued strategic positioning rather than broad risk reduction.
Key Highlights
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Average 1-Day Return: -3.45% across 77 crypto ETFs
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Median 1-Day Return: -2.58%
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Performance Range:
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Worst performer: -10.28%
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Best performer: +0.18%
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Total Net 1-Day Flows: +$659.4 million
Bitcoin ETF Activity
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IBIT (iShares Bitcoin Trust):
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1D Return: -2.47%
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1D Net Flows: +$297.4 million (largest inflow)
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FBTC (Fidelity Wise Origin Bitcoin Fund):
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1D Return: -2.59%
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1D Net Flows: +$30.1 million
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GBTC (Grayscale Bitcoin Trust ETF):
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1D Return: -2.52%
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1D Net Flows: +$102.5 million
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Despite price declines of roughly -2.5% across major spot Bitcoin ETFs, institutional demand remained strong, with IBIT leading inflows. Outflows were relatively modest compared to the scale of inflows into flagship spot Bitcoin products.
Ethereum ETFs
Ethereum ETFs showed relative resilience compared to the broader crypto ETF complex.
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Number of ETFs: 21
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Average 1D Return: -2.23%
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Median 1D Return: -2.48%
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Performance Range: +0.18% to -5.25%
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Total 1D Net Flows: +$129.6 million
Commentary:
Ethereum ETFs declined modestly, outperforming the broader crypto ETF average (-3.45%). Notably, one ETH-related product posted a small gain (+0.18%), showing some relative strength. Net inflows of approximately $130 millionindicate continued investor allocation into Ethereum exposure despite price weakness.
Solana ETFs
Solana ETFs experienced sharper downside volatility.
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Number of ETFs: 14
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Average 1D Return: -4.71%
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Median 1D Return: -3.89%
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Performance Range: -2.46% to -8.72%
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Total 1D Net Flows: +$33.7 million
Commentary:
Solana ETFs underperformed Ethereum and Bitcoin products, with average losses near -4.7%. The dispersion of returns suggests elevated volatility. Despite this, flows remained positive, signaling selective dip-buying behavior.
XRP ETFs
XRP-linked ETFs saw the most pronounced declines.
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Number of ETFs: 12
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Average 1D Return: -6.40%
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Median 1D Return: -4.98%
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Performance Range: -3.82% to -10.28%
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Total 1D Net Flows: +$4.0 million
XRP ETFs were the weakest segment on the day, with average losses exceeding -6% and one product declining more than -10%. Investor flows were marginally positive (+$4 million), suggesting limited but stable positioning rather than aggressive selling.
Crypto ETFs broadly declined on the day, with the average fund down -3.45%, reflecting weakness across digital assets. However, investor capital flows told a more constructive story. Net inflows of approximately $659 million indicate continued institutional accumulation, particularly in spot Bitcoin ETFs, even as prices retraced. The divergence between negative price performance and positive fund flows suggests longer-term positioning rather than short-term risk aversion.
Crypto Coin Market Update
Crypto markets extended their pullback overnight, with total market capitalization falling 1.9% to $2.38T, down from $2.40T (-1.5%) in the prior evening session. Selling pressure accelerated across major Layer-1 assets, particularly Ethereum, XRP, and Solana, while selective strength emerged in DeFi and Metaverse tokens.
Market Tone Shift
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Market Cap: $2.38T (-1.9%) vs. $2.40T (-1.5%) prior session
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Weakness broadened across large-cap Layer-1 assets
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Altcoin dispersion increased, with selective upside pockets
Layer-1 Performance
Bitcoin (BTC) declined to $66,650 (-2.5% 24H) from $67,558 (-1.1%), with market cap slipping to $1.40T.
Ethereum (ETH) saw deeper downside, falling to $1,986 (-3.8%) from $2,033 (-2.2%)**, erasing much of its recent weekly momentum.
XRP softened to $1.39 (-3.5%), while Solana (SOL) dropped to $85.10 (-2.7%).
Relative resilience was seen in:
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BNB (-1.2%)
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TRON (-0.5%)
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Hyperliquid (HYPE +1.2%), one of the few large caps in positive territory
Notable Gainers (Morning)
Strength rotated into select names:
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Internet Computer (ICP) +6.3% (now +18.1% over 7D)
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MemeCore (M) +5.8%
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Aave (AAVE) +2.5%
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Monero (XMR) +1.2%
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Hyperliquid (HYPE) +1.2%
ICP notably reversed from a -3.1% decline the prior evening to a +6.3% gain this morning.
Notable Decliners
Weakness persisted in meme and alt-beta tokens:
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Uniswap (UNI) -4.7%
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Pepe (PEPE) -4.2% (after -9.3% prior session)
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Zcash (ZEC) -4.2%
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Bitcoin Cash (BCH) -3.9%
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Ethereum (ETH) -3.8%
Pepe continues to show heavy volatility, compounding losses from the prior evening.
Sector Highlights
DeFi
DeFi showed relative strength:
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Coin98 +6.8%
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Serum +4.7%
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Aave +2.5%
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Compound +2.2%
This follows last night’s outsized move in Huobi Token (+81.5%), suggesting ongoing rotation within DeFi tokens.
Metaverse
Metaverse tokens broadly rebounded:
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ICP +6.3%
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SAND +1.7%
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AXS +1.7%
Overall Takeaway
The market tone deteriorated further into the morning session, with total crypto market cap slipping below $2.40T and large-cap Layer-1 assets accelerating to the downside. Ethereum, XRP, and Solana underperformed relative to Bitcoin, while defensive positioning and selective rotation into DeFi and Metaverse names emerged. The divergence between heavy large-cap selling and pockets of altcoin strength suggests short-term tactical repositioning rather than broad capitulation, though momentum remains fragile heading into the U.S. trading session.
