Here’s how Solana and XRP ETFs have performed compared to Bitcoin and Ethereum

Macroeconomic factors and geopolitical tensions have been shaping crypto markets over the past few weeks, with notable capital flows reported across spot Bitcoin and Ethereum ETFs, as well as Solana and XRP ETFs. A comparison of Bitcoin and Ethereum ETF flows shows a modest correlation, pointing to broadly similar investor behavior. By contrast, XRP and Solana ETFs have seen relatively subdued activity, a pattern attributed in the reporting to ongoing market volatility and a risk-off stance among investors.

Bitcoin and Ethereum ETF flows: inflows, outflows, and reversals

According to data from SoSoValue, spot Bitcoin ETFs recorded stronger inflows than outflows since the start of last week. On April 6, Bitcoin ETFs logged their largest single-day inflow since the beginning of March, with more than $471.3 million entering the funds. BlackRock’s IBIT led with approximately $181.9 million, followed by Fidelity’s FBTC with inflows of about $147.3 million.

That momentum was followed by sharp outflows over two consecutive days. On April 7, $159.05 million was withdrawn, and on April 8 another $125.55 million left the funds. The decline coincided with a US-Iran ceasefire announcement, which the report notes would typically be expected to support sentiment. Outflows continued, with Fidelity’s FBTC recording the highest outflows, followed by Grayscale’s GBTC and BlackRock’s IBIT.

On April 9 and 10, investor behavior appeared to shift again as geopolitical pressures eased. Bitcoin ETFs recorded total inflows of more than $598.5 million on both days. However, the rebound did not last: as of April 13, the funds had turned negative again, recording more than $291.1 million in outflows.

Ethereum spot ETFs showed a similar pattern. Since last week, they also recorded more inflows than outflows. On April 6, the ETF posted its largest inflow since March 17, with more than $120.24 million entering the fund. This was quickly reversed, with the next two days seeing outflows totaling $83.3 million, most of which came from Fidelity’s FETH and BlackRock’s ETHA.

After that pullback, Ethereum ETFs returned to positive territory, recording three consecutive days of inflows totaling more than $159.5 million. Overall, the flow patterns across Bitcoin and Ethereum ETFs suggest investors adjusted exposure in response to changing market conditions.

Solana and XRP ETFs: lower participation and intermittent flows

Compared with Bitcoin and Ethereum ETFs, XRP and Solana ETFs experienced more muted demand. XRP ETFs attracted about $13.8 million in total inflows since last week, underscoring weaker participation.

For XRP, April 6 recorded zero flows. The next day saw modest inflows of $3.32 million, followed by another day of zero flows on April 8. On April 9, the funds recorded an outflow of $671,160. Momentum improved briefly on April 10, when XRP ETFs recorded their largest inflow since early February, with more than $9.09 million entering the funds, followed by an additional $1.46 million on April 11.

Solana ETFs recorded total inflows of just $11.69 million since last week. April 6 and 7 saw modest positive flows totaling over $1.17 million. This was followed by a sharp reversal, with outflows exceeding $17 million, before activity declined again on April 9 with zero flows.

Demand returned briefly on April 10, when the fund attracted another $11.45 million—its highest inflow since early March. The report characterizes recent activity in both altcoin ETFs as contrasting with the stronger, more volatile flow swings seen in Bitcoin and Ethereum ETFs, suggesting a more cautious stance toward altcoins.