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U.S.-listed bitcoin spot ETFs posted broad net outflows on February 18, totaling $133.3 million, led by BlackRock’s IBIT at $84.2 million and Fidelity’s FBTC at $49 million. Total net assets across bitcoin funds stood at about $83.6 billion, roughly 6.3% of bitcoin’s market capitalization, implying institutions trimmed exposure rather than buying the dip. Ether spot ETFs also declined, with $41.8 million in net outflows, as BlackRock’s ETHA lost about $30 million; ether funds total around $11.1 billion, about 4.8% of ETH’s market cap. XRP ETFs slipped into negative territory with roughly $2.2 million in daily outflows, and XRP funds now have just over $1 billion in assets, roughly 1.2% of XRP’s market cap.
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Solana-focused ETFs bucked the trend, recording $2.4 million in net inflows on February 18 and pushing cumulative inflows to nearly $880 million. Bitwise’s BSOL led with about $1.5 million in fresh capital. The divergence underscores a rotation within crypto rather than a broad exodus, as investors seek selective exposure amid macro uncertainty and a firmer dollar.
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Outside the leading assets, inflows into smaller altcoin ETFs were modest, with only marginal activity in funds tracking tokens like LINK. The latest data suggests cautious institutional positioning rather than a wholesale shift away from digital assets, and ETF flows provide a real-time barometer of conviction in a choppy macro environment.
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