$5.57 Billion ETF Inflow, Altcoin Season Lacking

$5.57 billion has flowed into U.S. cryptocurrency ETFs, but an altcoin season has yet to emerge. Over the past 30 days, most of the funds have concentrated on four assets: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Solana (SOL). The Ethereum ETF saw a net inflow of $34.75 million, the XRP ETF had a net inflow of $12.29 million, and the Solana ETF recorded a net inflow of $11.73 million. In contrast, the Bitcoin ETF experienced a net outflow of $120.24 million. The net inflow for the Bitcoin ETF totaled $3.42 billion, while the Ethereum ETF accounted for $1.76 billion. The Solana ETF recorded a net inflow of $208.8 million, and the XRP ETF had a net inflow of $185.32 million. The combined net inflows of these four assets represent the majority of the total net inflow into spot cryptocurrency ETFs. However, the spread of funds into smaller assets has been limited, with the Chainlink (LINK) ETF seeing only $19.21 million, Hedera (HBAR) at $2.54 million, and Avalanche (AVAX) at $1.3 million. An altcoin season is defined by the ratio of altcoins outperforming Bitcoin, and the current index stands at 37, indicating that it is 'not an alt season.' Bitcoin's dominance is at 56.87%, making it difficult to confirm relative strength across the market. Future attention will be on the fund flows of the Ethereum, XRP, and Solana ETFs, as well as the net outflow of the Bitcoin ETF.

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