The cryptocurrency exchange-traded fund market is showing signs of life after a brutal November selloff. Both Bitcoin and Ethereum spot ETFs have managed to break their losing streaks, offering investors a glimmer of hope as digital assets begin to stabilize around key support levels.
Bitcoin ETFs Break Four-Week Losing Streak
After enduring four consecutive weeks of relentless outflows, Bitcoin spot ETFs finally caught a break in the final week of November. The investment vehicles recorded a net inflow of $70.05 million, marking their first positive week since late October and providing much-needed relief to an otherwise devastating month for crypto investors.
The recovery wasn’t uniform across all funds, however. BlackRock’s IBIT, trading at $51.55 per share, surprisingly bucked the trend with net outflows of $137.01 million despite Bitcoin’s price recovery. Nevertheless, the fund maintains its dominant position with cumulative net inflows of $62.57 billion, cementing its status as the undisputed leader in the Bitcoin ETF space.
Other major players felt the continued pressure, with Bitwise’s BITB experiencing outflows of $18.10 million and VanEck’s HODL seeing $36.95 million exit the fund. The real star of the recovery was Fidelity’s FBTC, which attracted massive inflows of $230.44 million, single-handedly driving much of the positive momentum.
Mixed Performance Across the ETF Landscape
Grayscale’s veteran funds GBTC and BTC, along with Ark Invest’s ARKB, contributed positively to the recovery with combined net deposits totaling $31.65 million. Meanwhile, smaller players including Invesco’s BTCO, Valkyrie’s BRRR, Franklin Templeton’s EZBC, WisdomTree’s BTCW, and Hashdex’s DEFI remained largely flat with no significant net flows.
Despite this modest comeback, the damage from November’s bloodbath was severe. Bitcoin spot ETFs closed the month with staggering total net outflows of $3.48 billion. Currently, the collective cumulative net inflow stands at $57.71 billion, with total net assets valued at $119.39 billion, representing 6.56% of Bitcoin’s overall market capitalization.
Ethereum ETFs Join the Recovery Rally
Ethereum spot ETFs weren’t left out of the recovery party, snapping their own three-week losing streak with impressive results. These products attracted net deposits of $312.62 million over the final week, bringing their cumulative total net inflows to $12.94 billion.
BlackRock’s ETHA dominated the Ethereum recovery with net deposits of $257.18 million, while Fidelity’s FETH contributed an additional $45.3 million to the positive flow. The Ethereum ETF complex now boasts total net assets of $19.14 billion, accounting for 5.19% of ETH’s market cap.
Market Outlook and Current Trading Levels
As institutional money begins to trickle back into crypto ETFs, both Bitcoin and Ethereum are showing signs of stabilization. Bitcoin continues to consolidate around the $90,840 level, while Ethereum trades at $2,991 following a modest 1.64% decline in recent sessions.
The return of positive flows after weeks of hemorrhaging suggests that institutional investors may be viewing current price levels as attractive entry points. However, with November’s massive outflows still fresh in memory, the sustainability of this recovery remains to be tested as markets navigate an increasingly complex macroeconomic environment.