U.S. spot Bitcoin exchange-traded funds (ETFs) experienced a net outflow of 64 million USD on Monday, even as spot products for Ethereum, XRP, Solana, and Hyperliquid recorded strong capital inflows. The divergence in fund flows indicates a temporary rotation of capital from Bitcoin into major altcoins, mirroring recent market price action where alternative assets outpaced the market leader.
Detailed flow statistics show that spot Ether ETFs led the gains with 22.5 million USD in new assets. Hyperliquid ETFs followed closely behind with an inflow of 17.2 million USD, while XRP and Solana products each pulled in approximately 2.8 million USD. This movement aligns with market performance, which saw XRP climb 7%, Solana gain 6%, and Hyperliquid surge 11% in a single day, compared to a quieter session for Bitcoin.
Despite these shifts, Bitcoin ETFs still dwarf the rest of the market, holding approximately 83 billion USD in assets compared to 10 billion USD for Ethereum and roughly 1 billion USD each for XRP, Solana, and Hyperliquid. Additionally, the Bitcoin outflows were highly concentrated; BlackRock’s IBIT, the largest spot Bitcoin fund, actually recorded a positive inflow of 66 million USD. The net negative figure was almost entirely due to Grayscale’s GBTC, a high-fee legacy trust that bled 124 million USD on Monday.
Excluding the continuing pressure from Grayscale’s legacy product, the broader Bitcoin ETF market experienced a standard and stable trading session. Market participants are now watching closely to see if the altcoin ETF inflows can maintain their momentum once the Grayscale-driven pressure on Bitcoin begins to subside, which would confirm whether a structural capital rotation is underway.