US Spot Crypto ETF Flows: SOL & HBAR Up, BTC & ETH Down
US spot crypto ETFs displayed divergent flows on November 5. Solana spot ETFs extended their inflow streak to seven days, attracting $9.7 million led by Bitwise’s BSOL and Grayscale’s GSOL. Hedera’s HBAR ETF also saw $1.92 million in net inflows, while Litecoin’s LITE remained flat. In contrast, Bitcoin (BTC) ETFs recorded a sixth consecutive day of outflows totalling $137 million, and Ethereum (ETH) ETFs withdrew $119 million, pushing total outflows close to $1 billion since late October. Despite redemptions, institutional investors bought dips, injecting an estimated 5,000 BTC during a recent $98K low. Analysts cite a risk-off environment driven by a stronger US dollar and tighter liquidity. The yield narrative and staking benefits of Solana ETFs continue to attract curious capital. Short-term pressure on BTC and ETH prices may persist, while modest SOL and HBAR inflows offer niche opportunities. Market recovery depends on stabilised macro liquidity and renewed institutional appetite.
Bearish
Persistent outflows from major BTC and ETH ETFs signal ongoing risk-off sentiment and are likely to weigh on prices in the short term. While Solana and Hedera spot ETF inflows indicate niche bullish pockets, their volumes are insufficient to offset the broader bearish trend in flagship assets. Institutional dip-buying may offer temporary support, but tight liquidity conditions and a strong US dollar maintain downward pressure. Over the long term, market recovery hinges on stabilised macro liquidity and renewed institutional appetite, making the outlook cautiously bearish until inflows normalise.