The week began with a shift in sentiment. After five consecutive sessions characterized by buying, Bitcoin ETF investors began to withdraw funds, with the outflows concentrated in some of the market's largest funds.
The selling also touched Ether. Meanwhile, products based on Solana and $HYPE found buyers, adding another layer of dispersion to institutional cryptocurrency flows.
Bitcoin Selling Spreads to Largest Funds
Bitcoin ETFs recorded a net outflow of $144.67 million across five products.
BlackRock's IBIT ETF led the outflows with $53.56 million, followed closely by Grayscale's GBTC with $52.02 million. Fidelity's FBTC lost $40.32 million. Bitwise's BITB recorded an outflow of $28.44 million, and Franklin Templeton's EZBC saw $7.38 million exit.
Grayscale's Bitcoin Mini Trust was the only fund to attract new capital, adding $37.06 million. This inflow softened the decline, although the overall category remained clearly in negative territory. Total Bitcoin ETF trading volume reached $2.03 billion, with aggregate net assets at the close standing at $78.16 billion.
Ether ETFs also started the week with an outflow, losing $14.59 million.
BlackRock's ETHA ETF accounted for the bulk of the selling with an outflow of $23.77 million. Fidelity's FETH ETF lost another $3.27 million. Other funds saw buyers. Grayscale's Ether Mini Trust attracted $8.59 million, and BlackRock's ETHB added $3.86 million.
Ether ETF trading volume was $533.17 million. Net assets at the session's end were $10.50 billion.
Solana and $HYPE Find Buyers
Solana ETFs showed the best dynamics among altcoins, attracting $8.83 million, with the entire sum flowing into Bitwise's BSOL fund. Total trading volume reached $30.93 million, and net assets at the session's close were $905.66 million.
ETFs on $HYPE continued their recent recovery, attracting $2.74 million. Bitwise's BHYP fund drew in $1.56 million, while Grayscale's HYPG fund added $1.18 million. Trading volume for the $HYPE series of ETFs was $5.75 million, and net assets at the close stood at $265.47 million.
XRP ETFs recorded no net creations or redemptions during the session.
BlackRock Lowers IBIT In-Kind Conversion Minimum from $25M to $1M
The day also brought fresh evidence of how Bitcoin ETFs are becoming more accessible to existing cryptocurrency holders.
BlackRock's Head of Digital Assets, Robert Mitchnick, stated in an interview with Bloomberg that the minimum size for in-kind Bitcoin conversion into IBIT has decreased from $25 million to $1 million compared to when the service first became available.
He said activity has picked up over the past three quarters as BlackRock has worked to make the service available to a broader set of investors. The company hopes this threshold can eventually be lowered even further.
This infrastructure is significant. Lower conversion minimums could make it easier for large Bitcoin holders to move assets into ETF structures without selling for cash first, thereby widening the bridge between direct crypto ownership and traditional brokerage accounts.
