Bitcoin News Today: Bitcoin ETFs Lose $3B in November; Solana ETFs Gain $476M Amid Downturn

U.S. spot Bitcoin exchange-traded funds (ETFs) attracted $75.4 million in net inflows on November 19, ending a five-day streak of outflows that coincided with a broader crypto market downturn. The rebound marked a brief respite for the products, which have lost nearly $3 billion in November alone, according to Farside Investors data. BlackRock's iShares Bitcoin Trust (IBIT) led the inflows with $60.6 million, reversing a record $523 million outflow just one day earlier. Grayscale's Bitcoin Trust (BTC) added $53.8 million, while Fidelity and VanEck funds saw smaller outflows according to Zycrypto data.

The inflows contrasted sharply with Ethereum ETF performance, which recorded a $37.4 million net outflow, driven by a $24.6 million withdrawal from BNY Mellon's ETHA fund. Meanwhile, Solana ETFs continued their streak of inflows, drawing $48.5 million on November 19 alone. The SOL-focused products have accumulated $476 million since their October 28 debut, outpacing Bitcoin and Ethereum ETFs in recent performance. Bitwise's BSOL led Solana inflows with $35.9 million, signaling renewed institutional interest in the altcoin despite a 12% drop in the CoinDesk 20 Index over the past week.

Bitcoin's price decline, which pushed the asset below $90,000 for the first time in seven months, has exacerbated the ETF outflows. The cryptocurrency fell as low as $89,426 on November 18, erasing its 2025 gains and testing support levels not seen since April according to Bloomberg. Analysts attributed the selloff to macroeconomic concerns, including uncertainty over Federal Reserve rate cuts and broader risk-asset weakness. "The backdrop has shifted from momentum to caution," said Wenny Cai of Synfutures, noting that institutional investors are reassessing exposure amid Bitcoin's 35% pullback from its October peak.

The ETF redemptions highlight a growing divergence in crypto market dynamics. While Bitcoin and Ethereum ETFs struggle, Solana's inflows suggest investors are seeking alternative exposure during the downturn according to CoinDesk data. However, the broader market remains fragile. U.S. spot Bitcoin ETFs have seen $2.96 billion in November outflows, with BlackRock accounting for $2.1 billion of that total according to Cointelegraph reports. The trend has raised concerns about a "mini-bear market," with Matrixport analysts linking the selloff to fading ETF inflows and reduced long-term holder exposure.

Despite the recent inflow reversal, experts caution that the ETF recovery is tentative. "A few days of positive flows don't signal a fundamental shift," said Wali Makokha of Mansa, emphasizing that the $60 billion in net inflows this year still outweighs recent outflows. Michael Saylor's Strategy Inc. added to the narrative, purchasing 8,178 BTC for $835.6 million during the downturn—a move seen as bolstering market confidence amid liquidity concerns.

Bitcoin's near-term outlook remains uncertain. Traders are watching key resistance levels at $98,500 and $102,000, with failure to reclaim those thresholds potentially triggering a retest of $90,000 or lower according to CoinEdition analysis. The ETF performance, meanwhile, will be closely monitored as a barometer of institutional sentiment in an increasingly volatile market.