Bitcoin exchange-traded funds recorded net outflows of $236.46 million on Tuesday, with BlackRock and Fidelity leading the redemptions. The same day, ether, XRP, Solana, and HYPE exchange-traded products pulled in fresh money, and ether ETFs extended their inflow streak to 12 consecutive trading days.
A market split in two
The divergence is stark. While bitcoin funds shed money, the altcoin products attracted capital. That's a shift from recent weeks, when bitcoin dominated inflows. The numbers suggest investors are rotating, or at least hedging, into other assets.
Ether's 12-day run
Ether ETFs have now seen inflows for 12 straight sessions. That's the longest streak in recent memory. The sustained buying comes even as bitcoin funds struggle. It's not clear what's driving the ether demand, but the pattern is consistent.
BlackRock and Fidelity lead the exits
The outflows were concentrated at the two biggest issuers. BlackRock and Fidelity were the leading managers behind the bitcoin ETF redemptions. That means the selling isn't spread across the board; it's coming from the largest funds.
The next few sessions will show if this is a one-day blip or a trend. Tuesday's data points to a market that's still deciding where to put its money.
