This week, there has been a significant institutional exodus from the U.S. Spot ETF, with BTC and ETH taking a hit, but SOL has been quietly attracting capital — a typical case of institutions reallocating their positions.

As soon as the numbers come out, you'll understand:
• BTC ETF had a net outflow of over $2B in a single week, second only to the $3.2B crash in February, with BlackRock's IBIT alone accounting for $375 million.
• ETH is even worse, with a continuous outflow for 6 days, and $1.2B just vanished.
• But Fidelity and Ark are still quietly buying the dip, with FBTC and ARKB investing 110 million and over 80 million respectively.

The most interesting thing is - SOL ETF has been operating in reverse, with a net inflow for 7 consecutive days, totaling $294 million. It seems that large holders are turning to Layer-1 alternatives, or simply looking down on the short-term performance of BTC/ETH.

Market sentiment is polarized: mainstream coins are adjusting, while alternative assets are favored. A typical risk reassessment phase.