## Crypto ETFs Experience Large-Scale Redemptions, Mainstream Coins Face Cold Reception

The US spot cryptocurrency ETF market continues to be weak, with investors significantly adjusting their allocations. Data from January 8th shows that funds are shifting from traditional mainstream coins to niche segments, reflecting the complex sentiment in the current market.

**Bitcoin ETF Faces Continuous Redemption Pressure**

Bitcoin ETFs recorded a net outflow of $398.95 million yesterday, marking several consecutive days of large withdrawals in this sector. Among them, BlackRock's IBIT product experienced the most concentrated outflow, totaling $193.34 million, followed by Fidelity's FBTC with an outflow of $120.52 million. Grayscale's products also performed poorly, with GBTC redeeming $73.09 million and Bitcoin Mini Trust losing $7.24 million. Ark & 21Shares' ARKB also saw a loss of $9.63 million. The only bright spot was Bitwise's BITB, which absorbed $2.96 million, standing as a lone vessel amid heavy redemptions. By the close of trading, the total ETF market trading volume reached $3.08 billion, but assets under management shrank to $117.66 billion.

This continuous outflow reflects investors' cautious attitude in reducing Bitcoin exposure amid technical weakness. As upward momentum wanes and selling pressure persists, both institutions and retail investors are choosing to avoid risk.

**Ethereum Under Pressure Continues, Redemption Wave Persists**

Ethereum ETFs are experiencing difficulties comparable to Bitcoin. The sector recorded a net outflow of $159.17 million, with BlackRock's ETHA leading the decline, with an outflow of $10.76 million. Grayscale's products faced the biggest impact, with ETHE redeeming $31.72 million and Ethereum Mini Trust losing $12.90 million. Fidelity and VanEck's products also contributed outflows of $4.63 million and $2.27 million respectively. The total trading volume for Ethereum ETFs was $1.15 billion, with net assets falling to $18.93 billion.

Ethereum has gradually shifted from a hot target last year to an object of capital withdrawal, indicating a lack of confidence in its short-term prospects.

**XRP and Solana Become New Capital Destinations**

Contrasting sharply with the downturn of mainstream coins, XRP ETFs reversed course yesterday, recording a net inflow of $8.72 million. Notably, Bitwise's XRP product led the recovery with an inflow of $4.51 million, followed by Grayscale's GXRP with an inflow of $2.89 million. Canary's XRPC and 21Shares' TOXR added $0.903 million and $0.414 million respectively. The quick shift from outflows on Wednesday to inflows indicates a rapid recovery in investor sentiment toward XRP. The total trading volume for XRP ETFs was $29.7 million, with net assets remaining at $1.49 billion.

Solana ETFs continued their momentum, with an inflow of $13.64 million, making it the most stable product of the day. Bitwise's BSOL accounted for most of it, with an inflow of $7.79 million, Grayscale's GSOL increased by $4.65 million, and Fidelity's FSOL added $1.21 million. Trading volume reached $16.94 million, with net assets steady at $1.1 billion.

This concentration of funds into mid-cap coins signals a subtle shift in market investment logic—from broad allocation across large-cap assets to targeted bets on specific projects.

**Market Is Repricing Risks**

From the liquidity features of the day, the cryptocurrency market is undergoing a profound risk reassessment. Bitcoin and Ethereum continue to face substantial redemptions, while XRP and Solana are selectively attracting new capital. This is not just technical volatility but also a reflection of changing investor sentiment—from a broad bullish outlook on the entire crypto market to selective focus on individual project fundamentals.

As the market digests excessive leverage and risk exposure, investors are adjusting their positions through ETF redemptions. Although this process may intensify short-term volatility, it also creates conditions for subsequent structural opportunities. Projects with solid fundamentals and strong technical momentum may become the focus of capital in the next phase.

BTC 24-hour trading volume is $861.67M, ETH is $519.71M, while XRP and SOL are $91.09M and $95.20M respectively, indicating a clear divergence in market activity.