After five consecutive days of net outflows, Bitcoin ETFs saw an inflow of $85.8 million on Friday, with BlackRock's IBIT contributing $57.7 million.

Meanwhile, Ethereum ETFs experienced a net outflow of $14.8 million this week, while Solana ETFs saw a net inflow of $4.7 million.
This set of data reveals more than just a short-term shift in sentiment; it indicates a structural reallocation of funds among Bitcoin, Ethereum, and emerging public chains.
The rebound in Bitcoin ETF inflows is largely driven by short covering and macro outlook recovery, while the continued outflow from Ethereum reflects market skepticism about its narrative and actual adoption pace.
Although the net inflow into Solana ETFs is not large in absolute terms, the directional signal is worth noting—when traditional funds start betting on non-Ethereum Layer 1s through ETF tools, it suggests that the competitive landscape within the sector is being re-priced.
The risk is that the reversal of ETF fund flows may be only a fleeting phenomenon. If macro data or regulatory developments exert further pressure next week, whether Bitcoin's net inflow can be sustained remains uncertain.
If Ethereum's weakness persists, it could further drag down the overall valuation of DeFi and Layer 2 ecosystems.
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