Bitcoin and Ethereum ETFs log $797 million in outflows as Solana funds draw inflows

Bitcoin and Ethereum ￰0￱ ETFs recorded a combined $797 million in outflows for the fifth straight day, while Solana ETFs extended the momentum of inflows. On-chain data showed that ￰1￱ spot ETFs recorded $578 million in outflows on November ￰2￱ posted $219 million for the fifth consecutive day in ￰3￱ far, Bitcoin ETFs have bled over $1 billion in institutional capital, cumulatively showing a sustained cooling off in demand for BTC and ￰4￱ on SoSoValue data, BTC has seen $764 million withdrawn since the token hit its all-time high on October 26th this ￰5￱ sustained streak of outflows has been attributed to profit-taking by large institutions and rebalancing of custody.

However, it remains unclear why there has been a streak of withdrawals across the cryptocurrency ￰6￱ ETFs posts net inflows despite SOL tumbling over 30% Solana ETFs have, however, displayed a sustained streak of inflows despite its native token, SOL, tumbling more than 30% over the past ￰7￱ to on-chain data, Solana ETFs have recorded a combined net inflow of $84.88 million over the past ￰8￱ made the largest contribution with $78.32 million, while Grayscale’s GSOL ETF contributed the remaining over the period of 30 days.) has recorded over $185 billion in outflows this month alone and over $1 billion in the past five ￰9￱ rest of the ETFs under the ￰10￱ Bitcoin have not recorded any fund flows today.

Regardless, all Bitcoin ETFs have recorded outflows since October 29th. BlackRock’s Ethereum ETF (ETHA) has so far recorded $192 million in outflows in November ￰11￱ has also recorded over $300 million in outflows since October ￰12￱ Fidelity’s FETH, at least $44 million has been withdrawn since the beginning of ￰13￱ notable flow was from Grayscales ETHE and ETH, which lost a combined outflow of $88 million yesterday, marking roughly $108 million in ￰14￱ has recorded more than a 15% drop over the past month, dropping below $104,000 for the first time in a ￰15￱ was trading at approximately $102,954 at the time of publication. ETH, on the other hand, recorded over 25% drop over the past 30 days, trading at $3,341 at the time of ￰16￱ a premium crypto trading community free for 30 days - normally $100/mo.