ETF Market Stabilizes Amid Bitcoin Sentiment Shift and Solana ETF Hype

Trend:

The ETF market has experienced significant fluctuations over the past seven weeks. This week saw an inflow of $48.60M, continuing the positive trend from last week’s $18.30M inflow. However, this follows a period of considerable outflows, with -$62.20M two weeks ago and -$250.10M three weeks ago. Notably, the four weeks prior saw substantial inflows of $193.50M, $1.24B, and $1.05B, respectively. The current week’s inflow suggests a potential stabilization after previous volatility. This shift may be attributed to the evolving sentiment around Bitcoin and the hype surrounding Solana ETFs, as well as the delayed launch of Ethereum ETFs. The broader market appears to be reacting to these developments, with investor sentiment showing signs of recovery and cautious optimism. The macroeconomic factors and recent news events indicate a complex market landscape, where regulatory delays and potential institutional interest are key drivers.

Day with the Highest Inflow:

On Monday, the ETF market recorded the highest inflow of the week, totaling $48.60M. This surge was primarily driven by significant movements in the US Bitcoin and Ethereum ETFs. The BlackRock-issued IBIT ETF saw an inflow of $92.70M, while the Fidelity Wise Origin Bitcoin Fund (FBTC) added $3.90M. Conversely, the Invesco Galaxy Bitcoin ETF (BTCO) experienced an outflow of -$8.80M, and the Bitwise Bitcoin ETF (BITB) saw a notable outflow of -$25.70M. These movements reflect a mixed sentiment among investors, with strong interest in certain ETFs despite outflows in others.

In the Ethereum ETF segment, the Grayscale-issued ETH ETF recorded an inflow of $4.90M, and the Bitwise ETHW ETF added $1.90M. On the other hand, the Grayscale ETHE ETF faced a significant outflow of -$20.30M. These dynamics indicate a selective investor approach, focusing on specific ETFs while divesting from others. The overall inflows on Monday highlight a cautious yet optimistic investor sentiment, influenced by the broader market trends and news events, including the anticipated impact of future Ethereum ETF launches and the growing interest in Solana ETFs.

Bitcoin Sentiment

CoinShares notes potential sentiment turn for bitcoin despite ETFs' weekly outflow streak. For more details, visit the source.

Dogwifhat and Solana ETF Hype

Dogwifhat jumps 16% — WIF price eyes more gains as Solana ETF hype grows. This memecoin's breakout stage is furthered by the anticipation surrounding Solana ETFs. Read more on Cointelegraph.

Ethereum ETFs Launch

Crypto may have to wait a tad longer for US spot Ethereum ETFs. Experts have moved their July 4 target for the launch. For further information, check out the article on DLNews.

Influence of Crypto Spot ETFs

Crypto Spot ETFs Will Have More Influence on Market's Price Action: Canaccord. Once launched, Ether spot ETFs should help broaden institutional appetite for other digital assets. The full report is available on Coindesk.

SEC Comments on Ethereum ETFs

Bloomberg ETF Expert Moves Estimated Ethereum ETF Approval Date Following New SEC Comments. The approval date for spot market Ethereum ETFs has been adjusted following recent SEC comments. Details can be found on The Daily Hodl.