Crypto majors slide as bitcoin ETFs snap inflow streak

Crypto prices moved lower as turmoil around President Donald Trump’s tariffs hit risk assets, putting pressure on the tokens many retail investors watch most closely. The move also came with a shift in fund flows: bitcoin exchange-traded funds, or ETFs, recorded $394 million in net outflows on Friday after four straight days of inflows.

Bitcoin traded down 2% at $91,100, while ether fell 4% to $3,105, according to crypto market data. Solana dropped 3% to $129, and XRP slipped 2% to $1.93.

For investors, ETF flows can matter because spot crypto ETFs offer a regulated stock-market wrapper for exposure to digital assets. When money leaves those funds, it can signal softer demand from buyers using brokerage accounts, though daily flows do not by themselves determine where prices go next.

ETF flows split between bitcoin and ether

Bitcoin ETFs saw $394 million leave on a net basis Friday, ending a four-day run of inflows, according to ETF flow data. Ether ETFs stayed positive, with $4.7 million in net inflows.

An ETF, short for exchange-traded fund, is a pooled investment product that trades on an exchange like a stock. In crypto, spot ETFs hold the underlying asset, such as bitcoin or ether, rather than futures contracts tied to future prices.

NYSE prepares tokenized trading plans

The New York Stock Exchange began preparations for round-the-clock trading of tokenized stocks and ETFs. Tokenization means representing a financial asset on a blockchain, a digital ledger that records ownership and transfers.

If developed, 24/7 tokenized trading would mark a different model from the traditional U.S. stock-market schedule, where regular trading hours are limited to weekdays. The reported preparations do not mean such a system is already available to investors.

Company and government crypto moves

Steak ’n Shake disclosed about $10 million of bitcoin exposure and said it created a corporate bitcoin strategic reserve. A corporate bitcoin reserve means a company holds bitcoin as part of its treasury assets.

Vitalik Buterin, the co-founder of Ethereum, called for more advanced governance models for decentralized autonomous organizations, or DAOs. A DAO is an internet-native organization that typically uses tokens and blockchain-based voting to make decisions. Buterin said improved governance could help with accountability, coordination and long-term sustainability.

Bermuda laid out plans for a fully onchain national economy. The country is working with Coinbase and Circle on payments, identity and tokenized financial infrastructure, according to the announced plans.

Altcoins and meme tokens

Some crypto tokens rose despite the broader weakness. CC gained 12%, MYX climbed 5%, and SYRUP rose 4%, leading the listed top movers.

Meme tokens mostly traded lower alongside the larger crypto market. Dogecoin and Shiba Inu each fell 1%, PEPE lost 2%, TRUMP dropped 1%, Bonk declined 1%, Pengu fell 4%, SPX lost 12%, WIF slipped 1%, and Fartcoin dropped 8%.

Onchain movers showed wider swings. USOR rose 70%, GSD climbed 50%, and Eliza Town jumped 800%, according to the onchain mover data.

This story draws on original reporting from Decrypt.