Crypto ETF flows: BTC sees $151M outflows as ETH and SOL funds thrive
The post Crypto ETF flows: BTC sees $151M outflows as ETH and SOL funds thrive appeared com. Bitcoin spot ETFs recorded $151M outflows on November 24. Ethereum’s products saw inflows of $96. 67 million. Solana ETFs continue their winning streak with yesterday’s $57 million. The cryptocurrency sector remains weak as bearish sentiments prevail. Indeed, recent price drops, muted trading activities, and worries about short-term recoveries have seen many investors adopt a defensive bias. Exchange-traded funds flow data reflects this uncertainty, with Bitcoin recording massive withdrawals as altcoin products hold steady. Let us find out more. Bitcoin ETFs continue to struggle Fidelity’s stands out BTC spot ETFs had a rough session on Monday, with net outflows totaling $151 million, according to SoSoValue. That signals deteriorated interest in these financial products, which have played a key role in institutional crypto adoption. Meanwhile, Fidelity’s FBTC stood out as it posted positive ETF flows of $15. 49 million on Monday amidst the broader retreat. On the other hand, BlackRock has struggled lately, with iShares’ outflows surpassing $2. 2 billion so far in November. Meanwhile, the mixed ETF outflows come as the Bitcoin price experiences notable downward pressure. The bellwether crypto is trading at $88,190, down from late last month’s high above $115,500. Ethereum posts inflows While investors remain more conservative about Bitcoin, Ethereum thrived. Data shows Ether ETFs attracted $96. 67 million in inflows yesterday, with BlackRock’s ETHA dominating at $92. 61 million. Ethereum seems to thrive as Bitcoin struggles, as narratives like the latest attacks on Strategy by JPMorgan magnified uncertainty in BTC-based financial products. Institutions are seemingly migrating to Ethereum, possibly indicating renewed trust in its unique role in powering scaling solutions, decentralized apps (dApps), and support for new infrastructure. ETH is changing hands at $2, 925 after gaining 3% the past 24 hours. It lost more than 2% the past week. Solana ETFs maintain upside momentum Solana held its ground, attracting net inflows. Continue reading Crypto ETF flows: BTC sees $151M outflows as ETH and SOL funds thrive
