Bitcoin ETFs Bleed $151M as Investors Pivot to Ethereum and Solana ETF Opportunities
Digital asset markets witnessed a dramatic capital rotation this week as institutional money continues chasing the next big crypto narrative.
The Great ETF Shift
While Bitcoin ETFs experienced significant outflows totaling $151 million, Ethereum and Solana exchange-traded funds captured fresh investor interest. The numbers don't lie—smart money is diversifying beyond the original cryptocurrency.
Ethereum's Institutional Moment
Wall Street's growing comfort with proof-of-stake assets signals a maturation in crypto adoption. Ethereum's deflationary mechanism and robust developer ecosystem are finally getting the institutional recognition they deserve.
Solana's Surprise Ascent
The real story might be Solana's emergence as a legitimate ETF contender. Once written off after network outages, the blockchain's blistering transaction speeds and growing DeFi ecosystem are turning heads in traditional finance circles.
Just another day in crypto—where yesterday's bleeding-edge technology becomes today's conservative investment, and where hedge fund managers suddenly become blockchain experts after reading two whitepapers.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
In the memo, Amazon said it will not expand support for third-party AI tools used to write software. While current tools in use will not be blocked, the company is steering developers toward Kiro, its in-house code-generation service.
Meanwhile, AMZN shares ROSE 2.53% on Monday, closing at $226.28.
Internal Focus on Kiro
Amazon introduced Kiro in July. The tool helps engineers write code using plain language, allowing them to describe what they want instead of typing it from scratch. Kiro was built with help from Anthropic, but it does not rely on Anthropic’s Claude Code product.
The memo was signed by two top executives, one from Amazon Web Services and one from the company’s eCommerce division. They said the shift WOULD help improve Kiro faster and make it the default choice for engineers. Last week, Amazon made Kiro available worldwide and added new features.
Investments and Industry Moves
The MOVE comes even though Amazon has deep ties with some of the same AI firms it is now moving away from. The company has invested about $8 billion in Anthropic and has a seven-year, $38 billion deal with OpenAIfor cloud services.
Amazon’s push toward using only its own tools comes as it tries to keep up with rivals like Alphabet (GOOGL) and Microsoft (MSFT), which have led the market with advanced AI products.
The company had already taken similar steps earlier. In October, it changed its policy on OpenAI’s Codex tool, labeling it “Do Not Use” after a six-month review. Claude Code was also marked as “Do Not Use” for a short time before Amazon reversed that status.
Cursor, another external tool, has attracted developers and investors. The startup was recently valued at nearly $30 billion after closing a new funding round. However, Amazon’s latest guidance suggests Cursor and similar tools may no longer be welcome inside the company.
Outlook for Developers and Investors
Amazon plans to build more with its own AI services while reducing reliance on external platforms. The company’s focus on internal growth could help it move faster and lower some long-term costs. Even so, the shift may affect how developers work, especially those who have been using faster or more advanced outside tools.
Is Amazon Stock a Buy, Sell, or Hold?
On the Street, Amazon continues to hold the analysts’ backing with a Strong Buy consensus rating. The average AMZN stock price target is $294.97, implying a 30.36% upside from the current price.
