Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure
The US Bitcoin Spot ETFs have produced a positive turnaround following four prior weeks of consistent outflows. In line with Bitcoin’s price recovery, these investment funds also ended a bleeding month of losses on a moderately positive note.
According to the ETF tracking site, SoSoValue, Bitcoin Spot ETFs registered a net inflow of $70.05 million in the last week of November, to provide relief to a rather draining month. Notably, this reported figure represents the first positive netflow in four weeks, stretching since the last week of October. In analyzing individual ETF performance, BlackRock’s IBIT, valued at $51.55 per share, was largely unaffected by Bitcoin’s recovery, resulting in net outflows of $137.01 million. However, its cumulative net inflow still stands at $62.57 billion, retaining its status as the undisputed market leader.
Other ETFs that also remained under bearish influence include Bitwise’s BITB and VanEck’s HODL, with aggregate outflows of $18.10 million and $36.95 million, respectively. On the other hand, the majority of the positive momentum came from Fidelity’s FBTC, which registered net inflows valued at around $230.44 million. Meanwhile, Grayscale’s duo GBTC and BTC, alongside Ark Invest’s ARKB, recorded a combined $31.65 million in net deposits.
Other funds such as Invesco’s BTCO, Valkyrie’s BRRR, Franklin Templeton’s EZBC, WisdomTree’s BTCW, and Hashdex’s DEFI recorded no significant netflow. Following this recent modest recovery, the Bitcoin spot ETFs closed November with total net outflows of $3.48 billion. At the time of writing, the cumulative total net inflow for these investment funds stands at $57.71 billion, while total net assets are valued at $119.39 billion, representing 6.56% of the Bitcoin market cap.
According to SoSoValue, the Ethereum Spot ETFs also experienced a market rebound following three consecutive weeks of outflows. Over the last week, these products attracted net deposits of $312.62 million to bring the cumulative total net inflows to $12.94 billion.
BlackRock’s ETHA and Fidelity’s FETH accounted for the majority of this positive netflow with net deposits of $257.18 million and $45.3 million, respectively. The Ethereum Spot ETFs now boast of total net assets of $19.14 billion, representing 5.19% of ETH’s market cap. At press time, Ethereum continues to trade at $2,991 after a minor 1.64% decline in the past day. Meanwhile, Bitcoin remains in consolidation around $90,840.
