Bitcoin & Ethereum Spot ETFs Reverse with $252M Inflows
Bitcoin spot ETFs saw net outflows of $137 million on November 5, extending a six-day withdrawal streak and cutting AUM to $139.15 billion (6.72% of BTC market cap). On November 6, the trend flipped with $240 million in net inflows—led by BlackRock’s IBIT ($112 million) and Fidelity’s FBTC ($61.6 million)—lifting AUM to $135.4 billion (6.73%). Ethereum spot ETFs also recorded $12.51 million in net inflows as BlackRock’s ETHA ($8 million) and Fidelity’s FETH ($4.94 million) outpaced Grayscale’s ETHE outflows ($3.52 million), boosting AUM to $21.75 billion (5.45%). Experts attribute the rebound to expectations of a US interest rate cut. These ETF flows highlight shifting investor sentiment and may influence short-term volatility in the crypto market.
Bullish
The end of a six-day outflow streak and the shift to $240 million of inflows in Bitcoin spot ETFs signal renewed investor confidence, buoyed by U.S. rate-cut expectations. Significant allocations to BlackRock’s IBIT and Fidelity’s FBTC may increase short-term buying pressure on Bitcoin. Concurrent inflows into Ethereum spot ETFs further underscore broader demand for major tokens. While ETF flows represent a modest fraction of total market cap, the positive momentum and improved sentiment are bullish for both price and liquidity, potentially sustaining a rally and reducing volatility over the medium term.