Bitcoin News Today: Harvard's $442M Bitcoin ETF Bet Defies 4-Day Outflow Trend

Bitcoin ETFs recorded a $255 million net outflow on November 17, with BlackRock's iShares Bitcoin Trust (IBIT) leading the exodus with a $146 million in redemptions. This marked the fourth consecutive day of withdrawals for U.S. spot Bitcoin ETFs, extending a trend that has seen cumulative outflows exceed $58.6 billion since their launch. Ethereum ETFs also faced pressure, losing $183 million in net outflows, while Solana and XRP ETFs bucked the trend with inflows of $8.26 million and $243 million, respectively. The divergence highlights shifting investor preferences toward altcoins offering yield-generating mechanisms, even as macroeconomic uncertainty and profit-taking weigh on Bitcoin's dominance.

Harvard University, a major institutional holder, has increased its exposure to Bitcoin ETFs despite the recent outflows. The Ivy League school's endowment disclosed a 257% surge in its IBIT holdings, now valued at $442.8 million, making it the largest single investment in its portfolio. This move aligns with broader institutional adoption, as Brown University and Emory University also added to their Bitcoin ETF positions. Harvard's strategy contrasts with broader market jitters, as its fund managers simultaneously expanded gold ETF holdings to $235 million, signaling a hedging approach amid volatility.

The outflows have pushed Bitcoin's price below $92,000, dragging its year-to-date performance into negative territory. Analysts attribute the redemptions to a mix of macroeconomic concerns, including inflation and central bank policy uncertainty, as well as profit-taking after recent rallies. BlackRock's IBIT, the largest Bitcoin ETF with over $72 billion in assets under management, has seen cumulative outflows of $532.4 million in the past week alone. Fidelity's FBTC and Grayscale's GBTC also posted significant redemptions, with the latter losing $25.1 million in a single day.

Meanwhile, Solana and XRP ETFs have attracted over $500 million in combined inflows since their launches, reflecting growing interest in altcoins with active staking ecosystems. Solana's spot ETFs, managed by Grayscale, Bitwise, and VanEck, now hold $541.31 million in assets, while the Canary XRP ETF debuted with $250 million in a single day. Nate Geraci, co-founder of the ETF Institute, called the XRP ETF's performance "a definitive measure of success", noting its record-breaking trading volume.

The market's mixed signals have sparked debate about the trajectory of crypto ETFs ahead of year-end. James Butterfill of CoinShares linked the Bitcoin and Ethereum outflows to "monetary policy uncertainty", and crypto-native whale sellers, while others highlight institutional buying opportunities in resilient assets. Despite the recent selloff, cumulative inflows into Bitcoin ETFs remain robust at $58.6 billion, underscoring long-term confidence in the asset class.