The cryptocurrency market was modestly weaker Friday morning, with total market capitalization declining 0.8% to $2.28 trillion. Bitcoin and Ethereum remained relatively resilient, with Bitcoin trading near $64,839 and Ethereum near $1,914, while Solana was slightly higher at $73.64. The broader market was more mixed, however, as strength in Cardano, Aave and OKB contrasted with sharp weakness in Canton and Ondo. ETF performance from Thursday reflected that softer backdrop: Bitcoin and Ethereum funds declined modestly, while XRP and Solana ETFs posted much steeper losses.
Bitcoin ETFs generally fell about 0.6% to 0.8% during Thursday’s session despite Bitcoin holding relatively steady overnight. The iShares Bitcoin Trust ETF declined 0.68% to $36.49, Fidelity Wise Origin Bitcoin Fund fell 0.64% to $56.06, and Grayscale Bitcoin Trust dropped 0.62% to $49.88. Fund flows were more constructive than price performance, with IBIT attracting approximately $196.8 million of daily inflows and roughly $539 million over the past week. IBIT has now gathered close to $966 million over the past month and more than $3.7 billion over the past year, showing that institutional demand remains strong despite near-term price volatility.
Ethereum ETFs also declined modestly but continued to show stronger recent momentum than Bitcoin products. The iShares Ethereum Trust ETF fell 0.55% to $14.40, while Fidelity Ethereum Fund declined 0.31% to $19.02 and Grayscale Ethereum Staking ETF slipped 0.45% to $15.38. ETHA still recorded approximately $50.3 million in daily inflows and more than $100 million over the past week. Monthly returns remained positive, with most spot Ethereum ETFs up roughly 6% to 6.7%, while ETHA has attracted more than $405 million over the past month and about $2.1 billion over the past year.
Solana ETFs were notably weaker as the underlying token fell during Thursday’s trading session. The Bitwise Solana Staking ETF declined 2.36% to $9.94, Grayscale Solana Staking ETF fell 2.49% to $5.49, and Fidelity Solana Fund dropped 2.22% to $8.59. Most spot Solana ETFs are now down roughly 11% over the past month and between 17% and 19% over three months, highlighting the category’s continued volatility. Bitwise’s BSOL remains the leader in asset gathering, with approximately $269 million in year-to-date inflows, but recent performance has been substantially weaker than Bitcoin and Ethereum.
XRP ETFs were the weakest major crypto ETF category. The Canary XRP ETF fell 3.17% to $10.98, Franklin XRP ETF declined 3.27% to $11.23, and Grayscale XRP Trust ETF lost 3.11% to $20.07. The group is now down roughly 10% over the past month and approximately 28% over both three and six months. Franklin’s XRP ETF continues to hold about $187 million of year-to-date inflows, but price momentum has deteriorated considerably as the underlying XRP token fell 2.7% during Thursday’s session.
Leveraged crypto ETFs amplified those moves. The Volatility Shares 2x Bitcoin ETF declined 1.37%, ProShares Ultra Bitcoin ETF fell 1.35%, and the T-Rex 2X Long Bitcoin ETF dropped 1.50%. Leveraged Ethereum products were somewhat more resilient, with ETHU down 0.67%, ETHT down 0.75%, and ETU falling 1.15%. The steepest losses came in XRP and Solana products: XXRP declined 6.89%, XRPT fell 6.80%, and UXRP lost 6.92%, while SOLT and SLON dropped 4.80% and 4.52%, respectively. These moves reinforce how quickly losses can compound in daily-reset leveraged products during weaker sessions.
Among the broader cryptocurrency market’s notable gainers, Cardano led with a 6.3% advance to $0.20, extending its seven-day gain to 18.5%. Aave rose 2.9% to $90.72, OKB gained 2.8% to $88.05, and Mantle added 2.0% to $0.41. On the downside, Canton fell another 10.0% to $0.09, bringing its weekly decline to more than 24%. Ondo dropped 5.3% to $0.35, while Gram, Sky, and NEAR Protocol declined between roughly 2% and 3%.
Overall, the crypto ETF ecosystem ended the week with a clear divergence. Bitcoin and Ethereum ETFs remained relatively resilient and continued to attract institutional inflows, while Solana and especially XRP products experienced much steeper declines. Leveraged ETFs magnified those differences, reinforcing their tactical nature. For retail investors, the current data continue to favor Bitcoin and Ethereum as the more stable areas of the crypto ETF market, while Solana and XRP remain higher-volatility exposures that may require a longer time horizon and tighter risk management.
