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Bitcoin exchange-traded funds recorded over $1.2 billion in outflows last week, led by Fidelity’s FBTC and BlackRock’s IBIT, according to data from SosoValue.
The redemptions come even as bitcoin’s price recovered 4% and major asset managers continue expanding their crypto ETF offerings, suggesting the outflows may reflect profit-taking rather than lost confidence in the asset class.
Meanwhile, BlackRock’s iShares Bitcoin Trust (IBIT) saw $131 million exit in the same period, pushing overall net outflows higher despite broader optimism in digital assets.
Interestingly, the wave of Bitcoin ETF outflows has not dampened the price action of leading cryptocurrencies. Both Bitcoin (BTC) and Ethereum (ETH) have recovered sharply from recent dips linked to macroeconomic uncertainties.
According to data from CoinMarketCap, Bitcoin surged 4% in the last 24 hours, trimming its seven-day losses to just 1.48%. The flagship crypto currently trades at $106,371.49, showing resilience despite investor withdrawals. Ethereum followed closely, climbing nearly 5% in the same timeframe to $3,607.
Market analyst Michael van de Poppe commented, “While ETF flows are a barometer of institutional sentiment, traders must remember that Bitcoin’s on-chain fundamentals remain strong. Short-term outflows don’t negate long-term bullish structures.”
SosoValue’s data also highlighted that Ethereum ETFs mirrored Bitcoin ETF outflows, recording a combined $46.6 million in negative flows last Friday. This brings weekly net outflows for Ethereum ETFs to over half a billion dollars.
In contrast, Solana ETFs have emerged as the unexpected outperformers. Since launching on October 28, Solana-based funds have attracted $136.5 million in inflows, maintaining a positive streak even as Bitcoin and Ethereum ETFs see redemptions. Analysts view this as a sign that institutional investors are diversifying beyond traditional crypto leaders.
Crypto strategist Raoul Pal told Global Macro Investor, “Solana’s strong inflows highlight how institutions are seeking exposure to next-generation blockchains with high throughput and real-world use cases. This diversification trend is accelerating.”
Despite persistent Bitcoin ETF outflows, Wall Street’s appetite for crypto continues to expand. BlackRock’s IBIT leads the ETF race this year with over $82.2 billion in assets under management (AUM).
Fidelity’s FBTC follows with $20.7 billion, while Grayscale’s GBTC maintains $17.7 billion AUM. Combined, the top firms now manage more than $138 billion in spot Bitcoin ETF assets.
Additionally, Bitwise and Grayscale have launched Solana ETFs, which have already attracted over $500 million since inception. Industry experts say this reflects growing institutional faith in the broader crypto ecosystem.
ETF analyst Nate Geraci, President of The ETF Store, noted, “Bitcoin ETF outflows are cyclical and often coincide with profit-taking phases. What matters is that institutional adoption is still accelerating beneath the surface.”
Adding fuel to market speculation, five new spot XRP ETFs—from Canary Capital, CoinShares, 21Shares, Franklin Templeton, and Bitwise—have been listed by the Depository Trust & Clearing Corporation (DTCC). These funds are expected to go live by the end of November, marking the next major wave in institutional crypto adoption.
Geraci added, “The approval of additional spot ETFs like XRP could further stabilize market flows and renew investor confidence after the recent bout of Bitcoin ETF outflows.”
Despite short-term volatility caused by Bitcoin ETF outflows, market sentiment appears cautiously optimistic. As Wall Street expands its crypto product offerings and digital assets recover from macro-driven declines, analysts expect capital to rotate back into ETFs once the market consolidates.
With Bitcoin reclaiming momentum and institutional inflows likely to resume, the ongoing Bitcoin ETF outflows could ultimately be remembered as a temporary shakeout in an otherwise bullish market cycle.
While Bitcoin ETF outflows have alarmed some investors, Wall Street’s sustained interest suggests that institutional conviction in crypto remains stronger than ever.
