Bitcoin (BTC) and altcoins experienced consecutive significant declines in October and November. BTC and cryptocurrencies got off to a tough start in December, but have since recovered quickly. However, this rapid market recovery was not reflected in US spot ETFs.
The Spot Bitcoin ETF also recorded $3.5 billion in net outflows in November, although this is currently reflected negatively.
The U.S. Spot Bitcoin ETF recorded net outflows of $194.6 million on Thursday, the largest single-day outflow in two weeks, according to data from Pharcyde Investors.
BlackRock’s IBIT fund led Bitcoin ETF outflows with $113 million, followed by Fidelity’s FBTC fund with $54.2 million.
VanEck’s HODL fund followed with $14.3 million in outflows, Grayscale’s GBTC fund with $10.1 million, and Bitwise’s BITB fund with $3 million in outflows.
In contrast to these outflows, Ark Invest’s ARKB fund, Invesco’s BTCO fund, Franklin Templeton’s EZBC fund, Valkyre’s BRRR fund, Wisdom Tree’s BTCW fund, and Grayscale’s BTC fund recorded zero inflows.
Ethereum ETF also leaked!
Outflows were also seen from Ethereum ETFs. According to data from Farside Investors, the Spot Ethereum ETF saw total net outflows of $41.5 million. This means that the net inflow reversed direction after just one day.
According to the data, Grayscale’s Ethereum Trust (ETHE) fund led the way in outflows with $31 million, followed by Grayscale’s Mini Ethereum (ETH) fund with $21 million and Fidelity’s FETH fund with $17.9 million.
In contrast to these outflows, BlackRock’s ETHA fund was the only fund with inflows, with $28.4 million.
VanEck’s ETHV fund, Bitwise’s ETHW fund, Invesco’s QETH fund, 21Shares’ TETH fund, and Franklin Templeton’s EZET fund showed no net flows.
Solana and XRP ETFs experience net inflows!
While Bitcoin and Ethereum ETFs experienced net outflows, altcoin ETFs continued to see strong demand.
According to the data, both US Solana (SOL) and the XRP ETF saw net inflows. The US Spot XRP ETF had net inflows totaling $12.84 million on the day. Franklin’s XRPZ fund had the biggest inflows of $5.7 million, Bitwise’s XRP fund had $3.76 million, and Grayscale’s GXRP fund had $2.04 million.
On the same day, the U.S. Spot Solana ETF saw net inflows totaling $4.59 million. Bitwise’s BSOL fund had net inflows of $730,000, Grayscale’s GSOL fund had net inflows of $1.54 million, and Fidelity’s FSOL fund had net inflows of $2.05 million.
*This is not investment advice.
