After an eight-week stretch that saw more than $8.2 billion drain from Bitcoin spot ETFs, the bleeding has finally stopped. A single-day inflow of roughly $222 million on July 2 broke the outflow streak, driven largely by fresh capital flowing into Fidelity’s FBTC product.
The great Bitcoin ETF exodus, and its messy reversal
The week of June 29 to July 3 alone saw $527 million in net outflows. Then July 2 happened. Approximately $222 million flowed back in on a single day, snapping the streak. Fidelity’s FBTC was the primary magnet for that capital.
Solana ETFs are having a very different experience
US Solana spot ETFs, which launched on October 28, 2025, have accumulated more than $1 billion in cumulative inflows in just a few months of trading.
During the same early July week when Bitcoin flows finally turned positive, Solana ETFs pulled in $5.75 million in net inflows. On July 6, daily inflows hit 103,020 SOL equivalent. Solana ETFs have experienced positive inflows on every trading day during this period. While Bitcoin and Ethereum funds were dealing with redemptions, products like Bitwise’s BSOL and Grayscale’s GSOL kept attracting fresh capital without interruption.
Bitcoin’s spot products have collectively gathered tens of billions since their January 2024 launch.
What this means for investors
Investors watching for sustained recovery should track whether inflows persist across multiple issuers, not just one, as Fidelity’s FBTC absorbed the bulk of the July 2 inflow.
Breaking $1 billion in cumulative flows within months of launch puts Solana ETF products on a notable trajectory. Major issuers including Bitwise, Grayscale, Fidelity, and BlackRock are all competing in this space, with data aggregators like SoSoValue and CoinGlass tracking the daily flows.