The first trading day of July brought a mixed picture for spot crypto ETFs traded in the United States. While Bitcoin and XRP funds saw outflows, investors preferred to increase their positions in Ethereum and Solana. This divergence across the four assets suggests that investors entered July with mixed risk appetite. The size of the outflow from Bitcoin was especially notable, as it showed that the inflow trend seen in recent weeks had been interrupted, at least in the short term.
Third Daily Outflow for Bitcoin
Spot Bitcoin ETFs closed July 1 with net outflows of $294.62 million. This marked one of the largest single-day outflows seen in recent weeks. Considering that institutional investors had largely added money to these funds throughout June, the pullback at the start of the month stood out. It is also worth noting that Bitcoin fell as low as $58,000 toward the evening yesterday. As shown in the chart below, the price move was sharp:
Daily swings of this kind are not exactly new for the market. Since their launch, Bitcoin ETFs have experienced several similar days of sharp outflows, only to recover within a few days. Still, a figure approaching $300 million shows that short-term investors entered July with a more cautious stance.
Ethereum Returns to Positive Territory
Ethereum ETFs recorded $14.89 million in net inflows on the same day. Unlike the outflows seen in Bitcoin, interest in Ethereum funds has remained relatively steady recently. This has also led to comments that some investors may be shifting their portfolios from Bitcoin toward Ethereum, although it is still too early to speak of such a rotation based on a single day of data.
A Modest but Positive Picture for Solana
Solana ETFs ended the day with $521,000 in net inflows. The figure is small, but given Solana’s relatively new position in the spot ETF market, a consistently positive trend remains an important signal. Although total fund size is still far behind Bitcoin and Ethereum, the fact that daily flows have not turned negative shows that demand for Solana funds remains alive.
Limited Outflow in XRP
XRP ETFs saw net outflows of $1.86 million. This figure remains quite small compared with the outflow from Bitcoin and does not point to a trend reversal on its own.
Looking at the broader picture for the day, the key takeaway is clear: some of the capital leaving Bitcoin and XRP funds was likely pulled from the market due to profit-taking or short-term risk reduction. The positive flows into Ethereum and Solana, meanwhile, show that interest in these two assets remains alive, at least for now.
