Bitcoin Updates: Bitcoin ETFs See Outflows as Solana Picks Up Speed

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Bitcoin Updates: Bitcoin ETFs See Outflows as Solana Picks Up Speed

Bitget-RWA2025/11/20 05:22

By:Bitget-RWA

- Bitcoin ETFs saw $75.4M net inflow led by BNY Mellon's IBIT , contrasting Ethereum ETFs' $37.4M outflow. - Abu Dhabi's ADIC tripled BlackRock IBIT holdings to $520M amid Bitcoin's 6-month price drop below $100K. - Solana ETFs gained $48.5M in 16-day streak, while BlackRock's IBIT faced record $523M outflow on Nov 19. - Analysts cite "mini bear market" from fading ETF inflows and weak macro signals, but note Solana staking and policy clarity as potential rebounds.

In trading yesterday,

Bitcoin

spot ETFs experienced a net positive flow of $75.4 million. Of this, BNY Mellon's

IBIT

drew in $60.6 million. In contrast,

Ethereum

spot ETFs saw investors pull out $37.4 million,

with $24.6 million withdrawn from BNY Mellon's ETHA

. This comes against the backdrop of a three-week downturn for digital asset funds, which collectively lost $3.2 billion,

including $2.1 billion in outflows from BlackRock's IBIT alone

. During the third quarter, the Abu Dhabi Investment Council (ADIC) nearly tripled its investment in BlackRock's IBIT,

amassing $520 million in holdings

despite recent price swings in Bitcoin.

Bitcoin's value dipped below $100,000 for the first time in half a year, intensifying ETF redemptions.

BlackRock's IBIT experienced a record $523 million in daily outflows

on November 19, marking the highest since its launch in January 2024. Analysts linked the sell-off to a "mini bear market"

triggered by waning ETF inflows

, a lack of strong macroeconomic drivers, and reduced participation from long-term investors.

At the same time,

Solana

spot ETFs continued to attract investment, bringing in $48.5 million on November 20,

marking 16 straight days of inflows

This divergence in ETF flows underscored changing investor preferences. While Bitcoin and Ethereum ETFs faced challenges, Solana-based funds such as Bitwise's BSOL

saw growing interest, accumulating $420 million in total inflows

since October 28. Canary Capital's XRP ETF also set a new record,

achieving $245 million in net inflows on its first day

. However, Bitcoin's recent price drop—

down 5.79% over the past week

—has raised fears of further declines, with technical signals pointing to a possible fall to $95.

Institutional appetite for crypto assets remained uneven. ADIC's increased IBIT holdings indicated rising adoption in the UAE, while

BlackRock's ETF outflows signaled a broader shift in risk appetite

amid ongoing uncertainty about Federal Reserve actions. ETF expert Eric Balchunas observed that Bitcoin ETFs could see a "3.5% AUM reduction"

if November redemptions surpass $3.56 billion

. Still, some analysts maintained a cautiously positive outlook,

pointing to Solana's staking-focused ETFs

and the prospect of improved macroeconomic conditions as potential drivers for recovery.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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