In recent weeks, the landscape for Bitcoin Spot ETFs has shifted dramatically, marking a significant change in investor sentiment. After a challenging period with ongoing outflows, these exchange-traded funds are beginning to regain ground, coinciding with a resurgence in Bitcoin’s market value.
Bitcoin Spot ETFs Show Signs of Life
As indicated by the latest data from SoSoValue, Bitcoin Spot ETFs saw an impressive net inflow of $70.05 million during the last week of November. This influx has alleviated worries from what had been a rough month for these funds. Significantly, this marks the first positive inflow after four weeks of losses stretching back to late October.
An examination of individual ETFs reveals that BlackRock’s IBIT, trading at $51.55, faced some challenges despite the overall recovery, experiencing net outflows totaling $137.01 million. Nevertheless, it remains a key player in the market with a robust cumulative net inflow of $62.57 billion, retaining its lead.
Conversely, some ETFs struggled, notably Bitwise’s BITB and VanEck’s HODL, which recorded aggregate outflows of $18.10 million and $36.95 million, respectively. On a brighter note, Fidelity’s FBTC shone with impressive net inflows of approximately $230.44 million. Additionally, Grayscale’s offerings and Ark Invest’s ARKB collectively drew in $31.65 million, showcasing selective investor interest.
Funds like Invesco’s BTCO, Valkyrie’s BRRR, and others showed little change, with no significant net inflows. Overall, Bitcoin Spot ETFs wrapped up November with total net outflows of $3.48 billion. Currently, the cumulative net inflow for these investment vehicles stands at $57.71 billion, while their total net assets reach approximately $119.39 billion, comprising 6.56% of the overall Bitcoin market cap.
Broadening Horizons: Ethereum ETFs Join the Recovery
Meanwhile, Ethereum Spot ETFs have not been left behind in this recovery wave, also rebounding after a three-week downturn. Recent data showed these ETFs attracted net deposits of $312.62 million, increasing their cumulative net inflows to $12.94 billion.
Largely responsible for this positive trend are BlackRock’s ETHA and Fidelity’s FETH, which together contributed net deposits of $257.18 million and $45.3 million. This surge has lifted the total net assets of Ethereum Spot ETFs to $19.14 billion, equivalent to about 5.19% of Ethereum’s market cap. As of now, Ethereum is trading around $2,991, reflecting a slight 1.64% dip in recent hours. In comparison, Bitcoin maintains a price range around $90,840.
