Solana Surges as Bitcoin ETFs Shed Over $230 Million
Bitcoin's (BTC) fortunes took a turn for the worse in early September as U.S.-listed crypto exchange-traded funds (ETFs) recorded $236.5 million of net outflows, according to FinanceFeeds. This came on the heels of a $216.7 million influx just one session prior.
BlackRock's IBIT was the biggest contributor to this decline, accounting for $201.2 million in withdrawals. Fidelity's FBTC also saw significant redemptions at $43.7 million.
In contrast, Solana (SOL) funds attracted a notable $101.9 million on September 1, with Bitwise's BSOL leading the charge at approximately $61.7 million. This influx pushed cumulative Solana ETF inflows above $1.4 billion.
Ether (ETH) and XRP (XRP) funds also remained positive, with net inflows of $10.95 million and $14.38 million respectively.