Bitcoin ETFs Rebound with $238M Inflow

Spot cryptocurrency exchange-traded funds (ETFs) experienced a positive turn at the end of the week, with Bitcoin, Ether, and Solana funds all recording inflows. This marks a significant shift after a period of volatility and notable outflows, particularly for Bitcoin ETFs which saw a substantial redemption day prior.

Key Takeaways

• Spot Bitcoin ETFs attracted $238.4 million in net inflows on Friday, recovering from a significant outflow day.

• Ether ETFs broke an eight-day streak of outflows, bringing in $55.7 million.

• Solana ETFs continue their strong performance with a 10-day inflow streak, accumulating $510 million since launch.
  
  

Bitcoin ETF Recovery

On Friday, spot Bitcoin (BTC) ETFs saw a strong rebound, attracting $238.4 million in net inflows. This recovery followed a substantial outflow of $903 million on Thursday, which was the largest single-day outflow in November and one of the most significant since their launch in January 2024. BlackRock's IBIT led the turnaround with $108 million in inflows, supported by smaller contributions from BITB, ARKB, and BTCO. Notably, even Grayscale's GBTC, which has faced consistent outflows, added $61.5 million.

Ether Funds Break Outflow Streak

After an eight-day period of redemptions, Ether (ETH) ETFs finally broke their losing streak, recording $55.7 million in inflows on Friday. Fidelity's FETH was a primary driver of this reversal, bringing in $95.4 million. This positive development comes after a challenging stretch from November 11-20, during which Ethereum funds collectively shed $1.28 billion, marking one of the longest and deepest periods of outflows since their inception.

Solana ETF Momentum Continues

Solana (SOL) ETFs continue to demonstrate robust performance, outperforming the broader altcoin market. Since their launch, the five available Solana funds have collectively gathered $510 million in net inflows. The Bitwise Solana ETF (BSOL) has been the dominant force, accounting for $444 million of these inflows. The group has now achieved an impressive 10-day consecutive inflow streak.

Ether Market Sentiment

Despite a sharp decline in Ether's price this week, dropping 15% between Wednesday and Friday and liquidating $460 million in leveraged long positions, derivatives data suggests a tentative shift in sentiment. Top traders are slowly increasing their long exposure, with futures funding rates rising from 4% to 6%. This indicates early signs of stabilization, although overall bullish demand remains subdued.

Sources

• Spot Bitcoin ETFs pull $238M as Ether funds snap 8-day outflow streak — TradingView News, TradingView.

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