Spot crypto exchange-traded funds (ETFs) experienced a rebound at the end of the week, with Bitcoin, Ether, and Solana funds all attracting inflows following a period of volatility and downturns.
On Friday, spot Bitcoin (BTC) ETFs saw net inflows totaling $238.4 million. This recovery followed a significant wave of redemptions the previous day. BlackRock's IBIT led the turnaround with $108 million in inflows, complemented by smaller contributions from BITB, ARKB, and BTCO, which helped to improve market sentiment. Even Grayscale's GBTC, which had been experiencing consistent outflows, attracted $61.5 million, according to data from Farside Investors.
This positive movement occurred after a substantial outflow of $903 million on Thursday, marking the largest outflow day in November and one of the most significant single-day outflows since these products were launched in January 2024.
During that Thursday, redemptions impacted nearly every issuer. IBIT experienced a loss of $355.5 million, FBTC saw $190.4 million withdrawn, and GBTC recorded $199.4 million in outflows.
Ether Funds Snap 8-Day Outflow Streak
After eight consecutive sessions of redemptions, Ether (ETH) ETFs broke their losing streak by attracting $55.7 million in inflows on Friday. This reversal was largely driven by Fidelity's FETH, which brought in $95.4 million.
This recovery followed a difficult period from November 11 to 20, during which Ethereum funds collectively saw outflows totaling $1.28 billion, representing one of the longest and deepest periods of redemptions since their launch.
Solana ETFs Continue Strong Performance
Meanwhile, Solana (SOL) ETFs continue to outperform the broader altcoin market. Since their introduction, the five Solana funds have accumulated $510 million in net inflows. The Bitwise BSOL fund has been the dominant contributor, accounting for $444 million of these inflows. The group of Solana ETFs has now achieved an impressive 10-day streak of positive inflows.
Ether Traders Tentatively Add Longs
Ether experienced a sharp decline this week, dropping 15 percent between Wednesday and Friday and liquidating $460 million in leveraged long positions.
Despite this downturn and a total drawdown of 47 percent from its August all-time high, derivatives data indicates that top traders are cautiously increasing their long exposure. Futures funding rates have risen from four percent to six percent, suggesting early signs of stabilization, although bullish demand currently remains weak.