Flows into Bitcoin and Ethereum spot ETFs have begun to correct again after weeks of steady redemptions. New data shows both asset classes posted positive inflow weeks for the first time since October, which could be an early sign that institutional demand may be stabilizing after a difficult month for major cryptocurrencies and their ETF products.
On the other hand, looking at the inflow data, Recently released Solana and XRP ETF products continue to attract a steady stream of institutional investors.
Bitcoin and Ethereum ETFs end continuous outflows
Spot Bitcoin ETF quietly reversed their opinion There was a net inflow of about $70 million in the last week of November, continuing a month of economic weakness. According to Data from SoSoValuethis was the first week of positive inflows since late October, ending a four-week boom. series of redemptions It removed about $4.35 billion worth of outflows from those funds.
Notably, Bitcoin ETF activity was weak on most days of the just-ended week, but the $71.37 million inflow on November 28 was enough to end the week on a positive note.
The return of net positive flows, even on a moderate scale, indicates that some institutional desks may be restructuring their exposure to Bitcoin.
Total Bitcoin Spot ETF net inflows. Source: SoSoValue
Ethereum saw a more pronounced change in flow numbers. Net inflows into the Spot Ethereum ETF rose to approximately $312.62 million in the just-ended week, ending a three-week period of redemptions that drained the issuer of more than $1.74 billion.
The magnitude of Ethereum’s rally is notable because the prices of major altcoins were falling. under more pressure It outperformed Bitcoin through most of November. The new inflows indicate a notable shift in sentiment, especially among institutions that had previously paused ETH accumulation.
Total Ethereum Spot ETF net inflows. Source: SoSoValue
Solana and XRP ETFs continue to perform well
While Bitcoin and Ethereum have struggled with weeks of capital outflows, the newly introduced Solana and XRP ETFs have not lost any momentum. Spot Solana ETF now 5th consecutive week of inflows, another $108.34 million Last week’s influx.
Interestingly, the Spot Solana ETF recorded $8.1 million in outflows on Wednesday, ending a 21-day inflow streak, but not enough to cause a net outflow week.
Spot XRP ETF, It was recently releasedfollowed a similar trajectory. There have now been three weeks of steady inflows, with an additional $243.95 million added last week, the highest weekly inflow to date.
Another spot XRP ETF is The live show is scheduled to start soon, as 21Shares recently confirmed that its U.S. Spot XRP ETF has received SEC approval and will begin trading on Monday, December 1st. This is based on the growing appetite of investors seeking exposure to cryptocurrencies other than Bitcoin and Ethereum.
Featured image from Unsplash, chart from TradingView
