November ETF Flows Reveal Investor Rotation
November proved turbulent for top cryptocurrencies, as Bitcoin and Ethereum spot ETFs experienced significant capital outflows. According to the latest ETF flow data, Bitcoin ETFs lost a staggering $3.48 billion, while Ethereum ETFs saw $1.42 billion in outflows. These numbers highlight a sharp reversal in investor sentiment toward the two leading crypto assets.
While BTC and ETH saw money flowing out, the spotlight turned toward other digital assets — particularly Solana (SOL) and Ripple’s XRP. Both tokens saw notable net inflows in their spot ETFs, suggesting a shift in investor appetite toward alternative cryptocurrencies.
SOL and XRP ETFs Attract Over $1 Billion
In contrast to the major outflows seen in BTC and ETH, Solana and XRP ETFs posted healthy net inflows. SOL ETFs attracted $419.38 million, while XRP outperformed with $666.61 million in new investments. This influx signals growing confidence in the broader altcoin market and potentially reflects a desire for exposure to newer narratives in the crypto space.
The increased inflows into SOL and XRP ETFs could also be tied to regulatory developments, market speculation, or better risk-reward perceptions compared to the saturated BTC and ETH ETF space.
ETF FLOWS: BTC and ETH spot ETFs saw huge net outflows in November with $3.48B for Bitcoin and $1.42B for Ethereum.
— Cointelegraph (@Cointelegraph) December 1, 2025
Meanwhile, SOL and XRP spot ETFs saw net inflows of $419.38M and $666.61M respectively. pic.twitter.com/WG0SWaXhPc
What’s Driving This Rotation?
There are several potential reasons behind this shift in ETF flows. Some investors may view BTC and ETH as having already priced in much of their near-term growth potential. In contrast, SOL and XRP may offer perceived “undervalued” opportunities with room to grow — especially as both networks continue to expand their use cases in decentralized finance (DeFi) and cross-border payments.
Additionally, recent positive momentum around Solana’s developer activity and XRP’s legal clarity in the U.S. may have increased investor confidence. The inflows suggest that institutions and retail investors alike are starting to diversify beyond the top two assets.