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Bitcoin, ether, xrp ETFs bleed while Solana bucks outflow trend
U.S. spot crypto ETFs saw broad-based redemptions led by bitcoin and ether funds, while Solana products drew fresh inflows, signaling selective institutional rotation rather than a full retreat from digital assets.
Updated Feb 19, 2026, 7:29 a.m. Published Feb 19, 2026, 7:25 a.m.
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What to know:
- U.S.-listed bitcoin, ether and XRP spot ETFs saw broad net outflows on Feb. 18, signaling institutions are cutting exposure rather than buying the dip.
- Bitcoin spot ETFs shed $133.3 million and ether products lost $41.8 million in a day, even as their funds represent 6.3 percent and 4.8 percent of each asset’s market value, respectively.
- Solana spot ETFs bucked the trend with $2.4 million in net inflows, suggesting investors are rotating within crypto rather than exiting the asset class amid macro uncertainty.
U.S.-listed crypto ETFs are flashing red across the board, with one notable exception.
Bitcoin spot ETFs saw $133.3 million in daily net outflows as of Feb. 18, led by BlackRock’s IBIT, which shed $84.2 million, and Fidelity’s FBTC, which lost $49 million. Total net assets across bitcoin funds stand at $83.6 billion, roughly 6.3% of bitcoin’s market cap, but recent flows suggest institutions are trimming exposure rather than adding on dips.
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Ethereum products followed a similar pattern. U.S. ETH spot ETFs recorded $41.8 million in net outflows on the day, with BlackRock’s ETHA losing nearly $30 million. Total net assets across ether funds sit at $11.1 billion, about 4.8% of ETH’s market cap.
The steady bleed comes as ether trades below $2,000 and struggles to build momentum despite broader expectations of rate cuts later this year.
XRP ETFs also slipped into negative territory, posting $2.2 million in daily outflows. Total net assets across XRP funds are just over $1 billion, or roughly 1.2% of XRP’s market cap. Price action in XRP has mirrored the cautious tone, with the token down over 4% on the day.
Solana, however, stood out.
U.S. SOL spot ETFs recorded $2.4 million in net inflows, pushing cumulative inflows to nearly $880 million. Bitwise’s BSOL led with $1.5 million in fresh capital. While modest in absolute terms, the inflow contrasts sharply with the broader risk-off positioning across bitcoin and ether products.
Elsewhere, smaller altcoin ETFs such as LINK saw marginal inflows, but the overall picture remains one of selective exposure rather than broad-based accumulation.
The divergence suggests investors are rotating within crypto rather than exiting entirely. With macroeconomic uncertainty lingering and the dollar firming, ETF flows offer a real-time read on where institutional conviction remains and where it is fading.
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