Bitcoin News Today: Bitcoin ETFs Defy Selloff as Inflows Return, Ethereum Struggles

After weeks of heavy outflows, U.S. spot Bitcoin exchange-traded funds (ETFs) have seen a modest resurgence in inflows, coinciding with a price rebound for Bitcoin above $92,000. The shift comes amid evolving investor sentiment and macroeconomic uncertainty, though Ethereum ETFs continue to face pressure.

Bitcoin ETFs experienced a record $1.26 billion net outflow in November 2025, marking the largest monthly redemption since BlackRock's iShares Bitcoin Trust (IBIT) launched in January 2024. The outflows accelerated amid a 16% drop in IBIT's share price to $52, a level last seen in April, and a seven-month high in the 250-day put-call skew, signaling bearish positioning. Total outflows for the month reached $2.59 billion across 11 spot Bitcoin ETFs, with BlackRock's IBIT leading the exodus.

Ethereum ETFs fared worse, logging $1.42 billion in outflows since early November. BlackRock's ETHA product alone saw $421.4 million withdrawn, while Grayscale's ETHE lost $121.8 million. Analysts attribute the decline to macroeconomic headwinds, including uncertainty around Federal Reserve rate cuts and a weakening correlation between Bitcoin and traditional safe-haven assets like gold.

Despite the broader selloff, Bitcoin ETFs have recently attracted renewed interest. On November 20, the BNY Mellon IBIT product recorded a $60.6 million net inflow, while the broader Bitcoin ETF category saw $75.4 million in inflows, signaling cautious optimism. The rebound follows Bitcoin's price surge above $92,000, a level not seen since late October, though it remains below the $126,000 peak hit in early November.

Ethereum ETFs, however, continued to struggle, with a $37.4 million net outflow reported on November 20. In contrast, Solana (SOL) and XRP ETFs attracted inflows of $23.66 million and $118.15 million, respectively, highlighting shifting investor priorities.

Institutional activity has played a pivotal role in shaping the ETF landscape. Harvard University's endowment allocated $443 million to BlackRock's IBIT, underscoring growing institutional confidence in Bitcoin despite the recent outflows. Meanwhile, MicroStrategy's latest Bitcoin purchase added 884 BTC to its holdings, reinforcing the asset's appeal as a store of value.

Market sentiment remains mixed. The Crypto Fear and Greed Index hit an extreme fear level, mirroring historical patterns often preceding market bottoms. Analysts like Tom Lee of Fundstrat argue Ethereum could enter a "supercycle" akin to Bitcoin's 2017-2021 rally, though skeptics question its ability to differentiate itself in a crowded blockchain landscape.

The path forward for crypto ETFs hinges on macroeconomic clarity and institutional positioning. While Bitcoin's price rebound and recent inflows suggest short-term stabilization, sustained recovery will require resolution on Fed policy and improved liquidity. For now, investors are balancing profit-taking with opportunistic buying, as seen in Germany's $13.2 million inflow into multi-asset ETPs amid U.S. outflows.

As the market navigates these dynamics, the interplay between ETF flows and price action will remain a critical barometer for crypto's next move.

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