Solana draws ETF inflows as BTC, ETH see Feb. 12 outflows

TLDR

• SOL spot ETF saw net inflows amid mixed Feb. 12 activity.
• BTC, ETH, and XRP ETFs posted net outflows during the session.
• Flows reflect creations/redemptions, not price moves or on-chain exchange activity.

Spot ETFs showed mixed action on Feb. 12: Solana (SOL) recorded net inflows, while Bitcoin (BTC), Ether (ETH), and XRP posted net outflows. These are product-level creations and redemptions, distinct from price moves or on-chain exchange flows.

The session unfolded against a weaker market tone. Bitcoin slipped under $66,000 and Ether below $2,000 as sentiment deteriorated, as reported by The Defiant (https://thedefiant.io/news/markets/bitcoin-under-usd66000-crypto-market-update-feb-12-2026).

Why SOL attracted inflows while majors saw outflows

Several features help explain SOL’s resilience: a relatively newer spot ETF wrapper, active-staking narratives, and investor rotation toward higher-beta exposure. When majors consolidate, allocators may rebalance toward assets with differentiated throughput and fee economics.

By contrast, XRP faced technical and macro headwinds, including bearish EMAs and fading hopes for near-term Fed cuts, according to FXEmpire (https://www.fxempire.com/forecasts/article/xrp-news-today-us-cpi-and-crypto-legislation-steer-outlook-1579332). That backdrop can suppress risk appetite in large-cap exposures even when longer-term narratives persist.

Some institutional commentary has framed SOL demand as narrative-driven rotation rather than a broad risk-on impulse. “Fresh flow meets fresh story,” said Vincent Liu, CIO at Kronos Research, in remarks reported by Cointelegraph (https://cointelegraph.com/).

Macro drivers: Fed expectations, yields, and risk sentiment

ETF flows tend to react to shifts in U.S. Federal Reserve policy expectations and Treasury yields. When cut odds recede and yields rise, liquidity tightens and risk-adjusted demand for spot crypto ETPs often moderates.

The pressure was visible around ether products, where ETF investors were sitting on more than $5 billion in paper losses during the slide, based on data from CryptoRank (https://cryptorank.io/news/feed/8e3e2-ethereum-etf-holders-suffer-5-billion-losses-as-market-slide-continues). Loss aversion and de-risking can translate into daily redemptions even without structural outflows at the asset-class level.

At the time of this writing, Solana traded near $78.34 based on provided market data, amid high measured volatility and bearish sentiment. These figures are contextual and do not imply any view on subsequent performance.