Noticed something interesting about the spot ETF flows this past week. SOL has been seeing some pressure with about $1.24 million in outflows, and most of that came from Grayscale SOL Trust which dropped $1.24 million. The other seven spot ETF options for SOL barely moved either way. Still, the total value sitting in SOL ETFs is holding up at $858 million, and over time these products have pulled in $1.02 billion total.

What caught my eye more was XRP. The spot ETF for XRP had a smaller outflow of $35,200, but there's some interesting split happening underneath. Bitwise's XRP ETF saw $3.7 million leave, while Canary's XRPC actually brought in $2.2 million. So money's shifting between different spot ETF options rather than leaving entirely. XRP's total ETF value is sitting at $1.06 billion now, with $1.29 billion cumulative inflows since launch.

Looks like both assets are consolidating at the ETF level. Not panic selling, just some repositioning between products.