Bitcoin News Today: Institutional Capital Favors Solana as Bitcoin ETFs Bleed $151M in Outflows

Crypto ETFs experienced a significant shift in investor sentiment last week, with $491 million in net inflows reported after months of outflows, according to multiple industry reports. This reversal comes as Bitcoin and Ethereum ETFs continued to face redemptions, while Solana and Ethereum products attracted capital amid a broader market correction. The contrasting performance highlights growing diversification strategies among institutional and retail investors.

Bitcoin spot ETFs recorded a net outflow of $151 million on November 24, marking the fourth consecutive week of withdrawals totaling $1.94 billion, per CoinShare data. However, the final trading day of the week saw a $225 million inflow into Bitcoin ETFs, signaling tentative optimism after seven days of outflows. James Butterfill, CoinShares' Head of Research, noted that this rebound was the third-largest in the past decade, though assets under management (AuM) for Bitcoin ETFs had declined by 36% since the start of the outflow streak.

Ethereum ETFs, meanwhile, drew $96.67 million in net inflows on November 24, led by BlackRock's ETHA product, which added $92.61 million. This marked a divergence from Bitcoin's trend, as Ethereum investors capitalized on lower prices. CoinShare's report also highlighted Ethereum's 7.3% AuM outflow for the week, though a $57.5 million inflow on Friday provided a partial recovery. Analysts attribute the shift to Ethereum's technical resilience and growing adoption in decentralized finance (DeFi) applications.

Solana ETFs emerged as the standout performer, logging $57.99 million in inflows on November 24, with Bitwise's BSOL product leading the charge. The fund's $39.5 million single-day inflow marked the third-largest since its October launch. Over the past three weeks, Solana ETFs have attracted $369 million in total inflows, bucking the broader market trend. This surge reflects institutional confidence in Solana's high-speed blockchain and its potential for tokenization projects, such as xStocks, which brings U.S. equities onto the network.

The divergent flows underscore a strategic recalibration in the crypto market. While Bitcoin and Ethereum ETFs face redemption pressures, investors are increasingly allocating capital to altcoins like Solana, which offer lower valuations and growth potential. CoinShare's Butterfill noted that the final week of November showed "tentative signs of a turnaround in sentiment," though the broader market remains cautious.

Looking ahead, the inflows into Ethereum and Solana ETFs may signal a broader shift in institutional positioning. Analysts suggest that Solana's resilience could reinforce its status as a "blue-chip" digital asset, even as risk appetite wanes. However, Bitcoin's ongoing outflows highlight lingering uncertainty about macroeconomic conditions and Federal Reserve policy.