Bitcoin spot ETFs closed the week with a $103 million daily inflow after facing significant outflows earlier.
US-listed Bitcoin spot exchange-traded funds (ETFs) ended the week on a high note, pulling in over $103 million daily inflows on November 27. This recovery follows a week marked by significant outflows, reflecting mixed investor sentiment in the broader crypto market.
A Mixed Month for Bitcoin Spot ETFs
Despite the strong end to the week, Bitcoin spot ETFs struggled in the days prior. Data from blockchain ETF tracker SoSoValue shows net weekly outflows of $458.08 million — the only week in November to record a net negative balance.
Earlier in the month, Bitcoin ETFs saw substantial inflows, with $3.38 billion recorded during the week ending November 22. This followed $1.67 billion and $1.63 billion in inflows during the preceding weeks. November 8, in particular, stood out as a strong performance day, bringing in $2.22 billion, making November one of the best-performing months for these products.
However, this positive trend shifted sharply at the start of this week. On November 25, Bitcoin spot ETFs recorded $438.38 million in outflows, driven by cautious institutional investors pulling back amidst broader market uncertainties. The following day, another $122 million flowed out, further dampening the week’s outlook.
The sentiment reversed midweek, with Bitcoin spot ETFs attracting more than $103 million in inflows by November 27. Key contributors included Bitwise Bitcoin ETF (BITB) and Fidelity Wise Origin Bitcoin Fund (FBTC), which accounted for $49 million and $40 million, respectively. Grayscale’s Bitcoin Mini Trust (BTC) and Franklin Templeton’s Digital Holdings Trust (EZBC) also added $12 million and $3 million, showcasing renewed investor interest.
Ethereum ETFs Outshine Bitcoin
While Bitcoin ETFs ended the month on a subdued note, Ethereum-focused ETFs delivered exceptional performance. Boosted by a significant legal victory for Ethereum’s decentralized finance (DeFi) ecosystem in the United States this week, Ether ETFs recorded $133.61 million in net weekly inflows.
According to SoSoValue, on November 26 alone, Ether ETFs brought in $40 million, with sustained momentum into November 27. Fidelity Ethereum Fund (FETH) and Grayscale’s Ethereum Mini Trust (ETH) led the charge, attracting $38 million and $37 million, respectively.
Ethereum’s strong ETF inflows coincided with an 8% price rally, pushing ETH’s ETH $1 638 24h volatility: 3.2% Market cap: $197.75 B Vol. 24h: $16.86 B value to $3,652 over the past seven days, as per CoinMarketCap.
Meanwhile, the contrasting performance of Bitcoin and Ethereum ETFs highlights shifting sentiment among institutional investors. While Bitcoin ETFs struggled to maintain momentum, Ethereum’s legal and market developments attracted renewed confidence.
The broader market rally remains a critical factor as both Bitcoin and Ethereum ETFs navigate fluctuating investor interest amid ongoing regulatory and market developments. The coming weeks will determine whether Bitcoin ETFs can sustain their late-week recovery or whether Ethereum will continue to outpace its crypto counterpart.
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