On November 17, U.S. spot Bitcoin ETFs recorded a significant net outflow of $255 million, continuing a four-day streak of redemptions. This trend is raising concerns among investors about short-term sentiment surrounding Bitcoin-based financial products.
The largest chunk of the day’s outflow came from BlackRock’s iShares Bitcoin Trust (IBIT), which alone witnessed a $146 million withdrawal—highlighting a shift in investor appetite even among the most trusted and institutional-backed ETFs.
While Bitcoin’s price remains relatively steady on the surface, these outflows suggest a cautious stance from institutional players. The sell-off could be attributed to short-term profit-taking or broader macroeconomic concerns, including interest rate expectations and regulatory uncertainty.
Ethereum Takes a Hit, Solana Gains Traction
Bitcoin wasn’t the only crypto ETF in the red. Spot Ethereum ETFs also reported $183 million in net outflows, indicating a broader pullback across major crypto assets. Despite ongoing optimism around Ethereum’s future use cases, investor behavior seems focused on risk management this week.
In contrast, Solana ETFs posted an $8.26 million net inflow, bucking the trend. This positive inflow suggests that some investors are shifting their interest to alternative Layer 1 blockchains, possibly driven by Solana’s recent performance and development activity in its ecosystem.
The diverging flows between Bitcoin, Ethereum, and Solana ETFs reveal changing investor strategies. While Bitcoin and Ethereum ETFs may be experiencing temporary outflows, Solana appears to be gaining confidence as a high-growth alternative in the crypto space.