Altcoin ETF Rotation Fails to Deliver Altseason
Investors have been shifting their capital between regulated crypto exposures, but this rotation is not translating into an altseason. According to data from SoSoValue, Bitcoin ETFs still dominated with $3.42 billion of net inflows over the 30 days through Sept. 9, while Ether attracted $1.76 billion. Solana and XRP added $200.88 million and $185.32 million, respectively.
The four largest assets accounted for roughly $5.57 billion of about $5.64 billion in 30-day net inflows across completed spot crypto ETF categories. The products below them attracted only a fraction of that capital. Bitcoin and Ether products held $99.33 billion and $15.69 billion, respectively, while XRP and Solana had grown to roughly $1.5 billion each.
An altseason still requires money to travel further into the broader token market. BlockchainCenter's Altcoin Season Index stood at 37 on Sept. 9, well below the 75 threshold at which three-quarters of the largest eligible tokens are outperforming Bitcoin over 90 days.