Bitcoin and Ether ETFs Extend Red Streak With Solana Defying Outflow Trend
The week began with sharp contrasts across the crypto ETF landscape. Bitcoin and ether funds saw another wave of redemptions, while solana ETFs continued their ascent, reinforcing a growing narrative that investors are diversifying beyond the top two cryptocurrencies.
Bitcoin ETFs logged their fourth straight day of outflows, shedding $186.51 million in a quiet yet decisive session. All redemptions were concentrated in Blackrock’s IBIT, which bore the entire brunt of the day’s exits. None of the other 11 bitcoin ETFs saw any movement, marking an unusually one-sided trading day. Despite the low fund participation, total trading volume reached $4.69 billion, and net assets dipped to $143.51 billion, extending last week’s downtrend.
Four days of outflows for bitcoin ETFs
Ether ETFs followed a similar script, registering a combined $135.76 million outflow across six funds. Blackrock’s ETHA led the redemptions with $81.70 million, trailed by Fidelity’s FETH at $25.14 million. Grayscale’s ETHE and Ether Mini Trust lost $15.03 million and $5.07 million, respectively, while Bitwise’s ETHW and Vaneck’s ETHV closed out the session with smaller exits of $6.19 million and $2.64 million each. Trading volume stood at $2.51 billion, and net assets fell to $24.02 billion, reflecting cautious sentiment in the ether market.
Five days of inflows for solana ETFs.
But the bright spot of the day belonged to solana ETFs, which continued their streak of green with a $70.05 million net inflow. Bitwise’s BSOL captured the majority at $65.16 million, while Grayscale’s GSOL added $4.90 million. The day’s trading volume reached $67.59 million, with net assets climbing to $513.35 million, a strong sign that investor enthusiasm for solana exposure remains undimmed.
As traditional crypto ETF heavyweights face headwinds, solana’s steady inflows suggest that market attention is slowly but steadily expanding beyond bitcoin and ether.
FAQ 💰
- Why did Bitcoin and Ether ETFs see heavy outflows to start November?
Investors pulled over $320 million from bitcoin and ether ETFs as cautious sentiment lingered after recent market volatility. - Why are Solana ETFs attracting strong inflows?
Solana ETFs drew $70 million in new capital as investors diversify into high-growth Layer-1 assets beyond bitcoin and ether. - Which funds led the ETF redemptions?
Blackrock’s IBIT and ETHA accounted for nearly all bitcoin and ether outflows, signaling profit-taking among large holders. - What does this shift mean for crypto markets?
The contrast between solana inflows and bitcoin-ether outflows highlights growing investor appetite for alternative blockchain exposure.
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