Massive Outflows Hit Bitcoin Spot ETFs, Solana Sees Continued Inflows
In a significant reversal, all 12 U.S. Bitcoin spot ETFs recorded substantial outflows totaling $558.44 million on November 7, marking one of the largest single-day withdrawals since the funds launched. This unexpected shift comes after a period of mixed results, with the funds alternating between inflows and outflows over the past week.
The outflows were led by Fidelity’s FBTC, which saw $256.66 million in withdrawals, followed closely by ARKB at $144.24 million and BlackRock’s IBIT at $131.43 million. Grayscale’s GBTC and Bitwise’s BITB also recorded notable outflows of $15.44 million and $10.68 million, respectively. Meanwhile, eight other Bitcoin ETFs, including Grayscale’s BTC, VanEck’s HODL, and Invesco’s BTCO, reported zero flow activity on November 7.
Fidelity and BlackRock Lead Bitcoin ETF Withdrawals
The November 7 outflow is the second-largest single-day withdrawal in recent trading sessions, surpassed only by the $577.74 million in outflows recorded on November 4. Despite this, the cumulative total net inflow across all Bitcoin ETFs remains substantial, standing at $59.97 billion, with total net assets under management reaching $138.08 billion as of November 7. The total value traded across all Bitcoin ETFs on November 7 was $5.04 billion, with BlackRock’s IBIT maintaining the highest cumulative net inflow at $64.32 billion, followed by Fidelity’s FBTC at $12.00 billion.
Solana ETFs Extend Inflow Streak to Nine Days
In contrast to the Bitcoin ETF outflows, Solana (SOL) spot ETFs continued their inflow streak, recording $12.69 million in inflows on November 7 and extending their consecutive inflow streak to nine trading days. This steady interest in Solana ETFs began on October 28, with daily inflows ranging from $9.70 million to $70.05 million during the nine-day period. The highest single-day inflow was recorded on November 3, with $70.05 million. As of November 7, total net assets under management for Solana ETFs reached $575.93 million, with a cumulative total net inflow of $335.71 million.
Solana ETF data: SoSo Value
For more information on the recent Bitcoin and Solana ETF outflows and inflows, please refer to the original source: https://crypto.news/all-12-bitcoin-etfs-see-outflows-totaling-558m/
