Spot crypto exchange-traded funds (ETFs) experienced a positive turnaround by the end of the week, attracting inflows for Bitcoin, Ether, and Solana after a turbulent period.
On Friday, Bitcoin (BTC) ETFs saw net inflows of $238.4 million, recovering from significant redemptions earlier in the week. BlackRock’s IBIT was a standout, contributing $108 million, while smaller issuers such as BITB, ARKB, and BTCO also aided in the upswing. Grayscale’s GBTC, which had been facing pressure, managed to bring in $61.5 million according to data from Farside Investors.
This recovery follows a staggering outflow of $903 million on Thursday, marking it as the most substantial single-day outflow in November and one of the largest since the inception of these products in January 2024.
Redemptions were noted across almost all issuers, including IBIT, which saw $355.5 million exit, with FBTC and GBTC losing $190.4 million and $199.4 million, respectively.
Bitcoin ETFs attract $238 million. Source:
Bitcoin ETFs attract $238 million. Source: Farside Investors
Ethereum Funds End Eight-Day Outflow Streak
After eight consecutive sessions of outflows, Ethereum (ETH) ETFs rebounded with $55.7 million in inflows, largely driven by Fidelity’s FETH which raised $95.4 million.
This turnaround comes after a grueling period from November 11 to 20, during which Ethereum funds lost a total of $1.28 billion, one of the most extended declines since their launch.
Meanwhile, Solana (SOL) ETFs continue to surpass the broader altcoin market, amassing $510 million in net inflows since their launch, primarily led by Bitwise’s BSOL with $444 million. Their inflow streak now stands at ten days.
Ether Traders Cautiously Add Longs
This week, Ether experienced a sharp decline, falling 15% between Wednesday and Friday, liquidating $460 million in leveraged long positions. Despite this downturn, data from derivatives shows that leading traders are slowly increasing their long positions. Futures funding rates have risen from 4% to 6%, indicating early signs of market stabilization despite weak bullish demand.
