Bitcoin and Ethereum ETFs See Outflows While Solana and XRP ETFs Attract Inflows

Source: CryptoNewsNet Original Title: Bitcoin and Ethereum ETFs Exit, Solana (SOL) and XRP ETFs Inflow! Here’s the Latest Data! Original Link: https://cryptonews.net/news/finance/32089845/ Bitcoin (BTC) and altcoins experienced consecutive sharp declines in October and November. While BTC and cryptocurrencies had a rough start to December, they subsequently recovered quickly. However, this rapid market recovery wasn’t reflected in US spot ETFs.

Bitcoin ETF Outflows Accelerate

Spot Bitcoin ETFs saw net outflows of $3.5 billion in November. According to Farside Investors data, spot Bitcoin ETFs in the US saw net outflows of $194.6 million on Thursday, the largest daily outflow in two weeks.

BlackRock’s IBIT fund led the Bitcoin ETF outflows with $113 million, followed by Fidelity’s FBTC fund with $54.2 million. They are followed by VanEck’s HODL fund with $14.3 million, Grayscale’s GBTC fund with $10.1 million, and Bitwise’s BITB fund with $3 million outflow.

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 ETFs Also Experience Outflows

Ethereum ETFs also saw outflows. Spot Ethereum ETFs saw a total net outflow of $41.5 million, according to data from Farside Investors. This means net inflows reversed direction after just one day.

Grayscale’s Ethereum Trust (ETHE) fund led the 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 to experience inflows, with an inflow of $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.

US spot XRP ETFs saw a total of $12.84 million in net inflows during the day. Franklin’s XRPZ fund saw the largest inflow with $5.70 million, while Bitwise’s XRP fund saw $3.76 million and Grayscale’s GXRP fund saw $2.04 million.

US spot Solana ETFs saw net inflows totaling $4.59 million on the same day. Bitwise’s BSOL fund saw net inflows of $0.73 million, Grayscale’s GSOL fund saw net inflows of $1.54 million, and Fidelity’s FSOL fund saw net inflows of $2.05 million.