- Bitcoin spot ETFs recorded $151 million in outflows on November 24.
- Ethereum products saw inflows of $96.67 million.
- Solana ETFs continued their winning streak with $57 million in inflows yesterday.
The cryptocurrency market remains subdued as bearish sentiment persists.
Recent price declines, subdued trading volumes, and doubts about a short-term recovery have pushed many investors into a defensive stance.
ETF flow data mirrors this uncertainty: Bitcoin funds registered sizable withdrawals while several altcoin products held steady or attracted fresh capital. Here’s a closer look.
Bitcoin ETFs struggle — Fidelity stands out
Bitcoin spot ETFs endured a difficult session on Monday, recording net outflows of $151 million, according to SoSoValue.
That decline points to waning interest in products that have been central to institutional adoption of crypto.
Amid the broader pullback, Fidelity’s FBTC stood out by posting positive flows of $15.49 million on Monday.
By contrast, BlackRock’s iShares offerings have faced significant withdrawals, with outflows exceeding $2.2 billion so far in November.
The mixed ETF flows coincide with downward pressure on Bitcoin’s price.
Bitcoin is trading around $88,190, well below last month’s highs above $115,500.
Ethereum posts strong inflows
While investors appear more cautious on Bitcoin, Ethereum-related ETFs attracted notable interest.
Data shows Ether funds pulled in $96.67 million on November 24, led by BlackRock’s ETHA, which accounted for $92.61 million of that total.
Ethereum’s relative strength comes as concerns about BTC-focused products—exacerbated by recent critiques of strategies by large banks—have pushed some institutions to diversify.
Institutions seem to be gravitating toward Ethereum, reflecting confidence in its role as a foundation for scaling solutions, decentralized apps (dApps), and emerging infrastructure.
ETH is trading near $2,925 after a 3% gain in the past 24 hours, though it has slipped more than 2% over the past week.
Solana ETFs continue upside momentum
Solana maintained momentum, drawing net inflows of $57.99 million on November 24.
The token has seen steady ETF inflows since the launch of its spot products, underscoring ongoing institutional demand.
For example, Bitwise’s Solana spot ETF surpassed $500 million in assets under management last week.
Institutional interest in Solana has accelerated due to its emphasis on scalability, speed, and security.
The network has spent recent years addressing past outages and rebuilding its reputation.
Today, Solana boasts a growing developer community, rising app usage, and an expanding ecosystem of Solana-based tokens.
These fundamentals have helped Solana carve out a distinct position within the blockchain landscape.
SOL is trading near $138 after a 5% gain in the last 24 hours, though it has fallen nearly 30% over the past month.
The ongoing inflows into Solana ETFs suggest some investors are prioritizing long-term potential over recent price volatility.
Overall, the latest ETF flow data highlights a bifurcated market: investors are broadening their focus beyond Bitcoin and assessing projects individually based on clear catalysts, narratives, and momentum.