Capital flows into spot Bitcoin and Ethereum ETFs are starting to re-adjust after several weeks of steady redemptions. New data shows that both asset classes recorded their first week of net positive inflows since October, which could be an early sign that institutional appetite may be stabilizing after a difficult month for the leading cryptocurrency and its ETF products.
On the other hand, the incoming data looks like this: recently released Solana and its XRP ETF product continue to attract steady institutional capital.
Bitcoin and Ethereum ETFs Surpass Consecutive Outflows
Bitcoin ETF Spot quietly reversed their position Net inflows of about $70 million occurred during the last week of November, continuing a month-long slump. According to Data from SoSoValueThis ended a four-week run with the first positive inflow week since late October. continuation of salvation About $4.35 billion worth of outflows were removed from those funds.
Notably, most days of the week just ended were defined by low activity for the Bitcoin ETF, but an inflow of $71.37 million on November 28 was enough to end the week on a positive note.
The return of net positive flows, even at a modest scale, suggests that some institutional desks may be able to rebuild their exposure to Bitcoin.
Total Bitcoin spot ETF net inflows. Source: SoSoValue
Ethereum has seen a much more noticeable change in flow numbers. Net inflows into spot Ethereum ETFs rose to approximately $312.62 million in the week just ended, ending a three-week redemption cycle that drained more than $1.74 billion from issuers.
The reason why Ethereum’s rebound is notable is because the price of the leading altcoin is under stronger pressure The new inflows over Bitcoin throughout November represent a notable shift in sentiment, especially among institutions that had previously paused on ETH accumulation.
Total Ethereum spot ETF net inflow. Source: SoSoValue
Solana and XRP ETF remain positive
Even as Bitcoin and Ethereum suffered from weeks of outflows, the newly introduced Solana and XRP ETFs never lost momentum. Spot Solana ETF now Additional inflow of $108.34 million for 5 consecutive weeks Inflow last week.
Interestingly, the Spot Solana ETF experienced outflows of $8.1 million on Wednesday, ending its 21st consecutive day of inflows, but this was not enough to cause a net outflow week.
Spot XRP ETF, Although it was recently releasedIt followed a similar trajectory. They have now recorded three consecutive weeks of inflows, with $243.95 million added last week, the highest weekly inflows to date.
Another Spot XRP ETF is It will be released soon. 21Shares recently confirmed that its US Spot XRP ETF has received SEC approval and will begin trading on Monday, December 1st. This builds on investors’ growing desire for more cryptocurrency exposure outside of Bitcoin and Ethereum.
Featured image from Unsplash, chart from TradingView
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