Last week's ETF flows told a clear story — institutional money rotated out of the top two and quietly moved down the cap table.
$BTC ETFs recorded $1.039B in net outflows, snapping a six-week inflow streak. $ETH was worse in consistency — outflows every single trading day last week, totaling $255M. The two largest assets in crypto absorbed the bulk of the institutional selling pressure.
What makes this interesting is what happened simultaneously at the alt layer. SOL ETFs pulled in $58.12M and XRP ETFs absorbed $60.50M in the same week. That's not noise — that's capital rotating rather than exiting. When BTC and ETH bleed while SOL and XRP absorb inflows, it suggests institutional players aren't leaving crypto, they're repositioning within it.
Whether that rotation holds or reverses depends on what BTC does from here. Alt ETF inflows tend to dry up fast when BTC loses key support levels. Watch the flows weekly — they're the most reliable leading indicator of where institutional conviction actually sits.
