Exciting news! Capital is flowing back into Bitcoin and Ethereum ETFs after a long stretch of redemptions. Recent data reveals that both asset classes have enjoyed a week of positive inflows for the first time since October. This could be a hopeful sign that institutional interest is stabilizing after a rollercoaster month for our favorite cryptocurrencies and their ETF products.
On another note, budding investments show that the recent Solana and XRP ETF products are still drawing in steady institutional interest.
Bitcoin And Ethereum ETFs Break Their Outflow Streak
Spot Bitcoin ETFs have quietly turned the tide after a month of declines, bringing in about $70 million in net inflows during the last week of November. According to SoSoValue data, this marks the first positive inflow week since late October, ending a bumpy ride of four weeks that saw around $4.35 billion in outflows.
Many days during the past week saw low activity in Bitcoin ETFs, but a clear highlight was the $71.37 million inflow on November 28 that flipped the week’s results to the upside.
These net-positive flows, even if modest, hint that some institutional players may be ready to re-enter the Bitcoin space.
Total Bitcoin Spot ETF Net Inflow. Source: SoSoValue
Ethereum is not to be outdone! Spot Ethereum ETFs raked in around $312.62 million last week, marking a significant rebound after three weeks of redemptions that saw over $1.74 billion pulled out.
This resurgence is especially noteworthy since Ethereum had faced more intense selling pressure than Bitcoin for most of November. The new inflows suggest a shift in sentiment, particularly among institutions that had previously hit the pause button on ETH accumulation.
Total Ethereum Spot ETF Net Inflow. Source: SoSoValue
Solana And XRP ETFs Maintain Positive Run
While Bitcoin and Ethereum experienced rocky waters, the fresh Solana and XRP ETFs have been sailing smoothly. Spot Solana ETFs are cruising with a five-week streak of inflows, adding another $108.34 million just last week.
Interestingly, Spot Solana ETFs had a dip with $8.1 million out on Wednesday, breaking a 21-day inflow streak, but it was not enough to flip the weekly numbers into the negative.
Spot XRP ETFs, though newer to the game, are also performing well. They are riding a three-week inflow wave, with a whopping $243.95 million added last week—their largest weekly inflow to date!
Excitingly, another Spot XRP ETF is about to launch! 21Shares has confirmed that its US Spot XRP ETF got SEC approval and will kick off trading on Monday, December 1. This signals a growing interest among investors eager for more crypto options beyond just Bitcoin and Ethereum.
Featured image from Unsplash, chart from TradingView
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