Bitcoin ETFs $2B Outflow; Ethereum ETFs Slide, Solana Gains
Spot Bitcoin ETFs recorded $2.04 billion in net outflows over a six-day period ending November 4, marking the second-largest redemption streak for spot BTC ETFs. Tuesday saw the largest single-day withdrawal of $566 million after outflows of $470 million, $488 million and $191 million on prior days. Wednesday added $137 million in redemptions, but the streak ended Thursday with $239.9 million in net inflows. Spot Ether ETFs also faced selling pressure, with $118.5 million withdrawn on Wednesday, led by BlackRock’s ETHA product redeeming $146.6 million. Institutional investors pulled nearly $1.2 billion from Ether ETFs over the six days, even as total inflows since inception exceed $13.9 billion. In contrast, Solana ETFs attracted $9.7 million in inflows on Wednesday, extending a seven-day positive trend and bringing cumulative net additions to $294 million. Traders should monitor ETF flows for signals of shifting institutional sentiment and potential impacts on short-term market momentum.
Bearish
Heavy net outflows from Bitcoin ETFs—totaling $2.04 billion over six days—signal rising risk aversion among institutional investors, often presaging downward pressure on BTC prices in the short term. Ethereum ETFs also faced significant redemptions, reinforcing a cautious posture toward major crypto assets. Although a single day of inflows and Solana ETF gains suggest pockets of alternative demand, the overall withdrawal trend points to weakening market momentum for Bitcoin and Ethereum. Traders should expect continued volatility and potential price dips as ETF flows remain a critical indicator of institutional sentiment.