Ether, XRP, Solana and Hyperliquid funds all took in money, but bitcoin’s outflow was really just Grayscale’s GBTC US spot bitcoin ETFs lost a net $64 million on Monday, even as spot ETFs for ether, XRP, Solana and Hyperliquid all pulled in fresh cash.
On the surface, that looks like a clean rotation out of bitcoin and into everything else
Ether funds gained $22.5 million, Hyperliquid funds $17.2 million, and the XRP and Solana funds about $2.8 million each. That tracks Monday’s price action, where the alts ran well ahead of bitcoin, with XRP up about 7%, Solana 6% and Hyperliquid 11% on the day. The flows followed the tape.
It is worth keeping the scale in mind. Bitcoin ETFs still hold about $83 billion in assets, against roughly $10 billion for ether and around $1 billion each for the XRP, Solana and Hyperliquid products. The bitcoin number needs a second look.