Investors pull capital from Bitcoin, ether and XRP ETFs, but Solana bucks the outflow pattern.

U.S. spot crypto ETFs saw widespread redemptions, led by bitcoin and ether funds, while Solana products attracted fresh capital — underscoring a rotation within digital assets rather than a broad institutional pullback.

Bitcoin spot ETFs posted $133.3 million in net outflows on Feb. 18. The bulk of the withdrawals came from BlackRock’s IBIT, which shed $84.2 million, and Fidelity Investments’s FBTC, which recorded $49 million in outflows. Despite the recent redemptions, total net assets across U.S.-listed bitcoin ETFs remain sizable at $83.6 billion, representing about 6.3% of bitcoin’s market capitalization. The recent flow trend suggests institutions are reducing exposure rather than buying into price weakness.

Ether funds followed a similar trajectory. U.S. spot ETH ETFs logged $41.8 million in daily outflows, with BlackRock’s ETHA accounting for nearly $30 million of that total. Combined net assets across ether products stand at $11.1 billion, or roughly 4.8% of ETH’s market value. The persistent outflows come as ether trades below $2,000 and struggles to regain upward momentum despite expectations of potential rate cuts later in the year.

XRP-linked ETFs also slipped into negative territory, posting $2.2 million in outflows. Total net assets across XRP funds are slightly above $1 billion, equivalent to about 1.2% of XRP’s market cap. The token’s price action has reflected the cautious mood, with XRP down more than 4% on the day.

Solana, however, broke from the broader pattern.

U.S. spot SOL ETFs recorded $2.4 million in net inflows, lifting cumulative inflows to nearly $880 million. Bitwise Asset Management’s BSOL led with $1.5 million in new capital. Though modest in scale, the inflows stand in contrast to the outflow trend seen in bitcoin and ether products.

Elsewhere, smaller altcoin ETFs such as LINK registered marginal inflows, but the overall environment reflects selective allocation rather than widespread accumulation.

The divergence in flows indicates investors are rotating within the crypto complex rather than exiting entirely. With macro uncertainty lingering and the dollar strengthening, ETF activity continues to provide a real-time signal of where institutional conviction remains intact — and where it is softening.