Bitcoin ETFs attract $238 million as Ether ends 8-day streak of outflows

Cryptocurrency spot funds (ETFs) saw a rebound at the end of the week, with Bitcoin, Ether and Solana funds all seeing inflows after a week of volatility and declines.

Spot Bitcoin (BTC) ETFs attracted $238.4 million in net inflows on Friday after a wave of weighty redemptions a day earlier. BlackRock’s IBIT delivered a $108 million return, while smaller contributions from BITB, ARKB and BTCO helped lift sentiment. Even Grayscale’s GBTC, long under pressure from outflows, added $61.5 million, According to based on data from Farside Investors.

The recovery followed a acute outflow of $903 million on Thursday, the largest day of outflow in November and one of the largest single-day outflows since the products launched in January 2024.

During the day, redemptions affected almost every issuer, including IBIT with a loss of $355.5 million, FBTC with a withdrawal of $190.4 million and GBTC with an outflow of $199.4 million.

Bitcoin ETFs Attract $238 Million. Source: Farisde Investors

Related: BlackRock Bitcoin ETF Loses $2.47 Billion in November as Outflows Hit Record $3.79 Billion

Ether funds break 8-day streak of outflows

After eight consecutive redemption sessions, Ether ETFs (ETH) snapped their losing streak on Friday, with $55.7 million flowing in on Friday, powered primarily by Fidelity’s FETH, which brought in $95.4 million.

The reversal comes after a cardinal period from November 11 to November 20, when Ethereum funds lost a total of $1.28 billion, one of the longest and deepest red waves since their launch.

Meanwhile, the Solana ETF (SOL) continues to outperform the broader altcoin market. Since launch, Solana’s five funds have raised net inflows of $510 million, led by BSOL Bitwise with $444 million. The group has now seen a 10-day streak of inflows.

Related: ARK Invest ends the week with purchases of Bitcoin ETF, Bullish, Circle, BitMine

Traders in the ether market initially add long positions

Ether has fallen sharply this week, falling 15 percent between Wednesday and Friday and wiping out $460 million in long leveraged positions.

But despite the decline and overall decline of 47 percent from August’s all-time high, derivatives data shows top investors are slowly adding long exposure. Futures financing rates rose from four percent to six percent, showing early signs of stabilization even as bullish demand remains tender.

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