Bitcoin ETFs See $254.82M in Inflows, Ethereum Funds Struggle with Outflows

Spot Bitcoin and Ethereum exchange-traded funds (ETFs) in the U.S. have experienced diverging trends as the broader cryptocurrency market consolidates.

According to data from SoSoValue, Bitcoin ETFs saw a strong rebound on November 18, recording net inflows of $254.82 million, breaking a two-day streak of outflows that had totaled $770.77 million. BlackRock’s iShares Bitcoin Trust (IBIT) led the charge with $89.33 million in inflows, following a quiet period of no activity. Notably, IBIT now holds $43.12 billion in net assets, surpassing BlackRock’s iShares Gold Trust, which manages $32.67 billion in assets.

Other major Bitcoin funds also contributed to the positive inflows. Fidelity’s FBTC brought in $59.95 million, while Grayscale Bitcoin Mini Trust saw $54.39 million in new investments. Smaller inflows were recorded by Bitwise’s BITB ($24.37 million), ARK 21Shares’ ARKB ($13.22 million), VanEck’s HODL ($7.74 million), and Grayscale’s GBTC ($5.82 million). The remaining five Bitcoin ETFs saw no significant changes.

Ethereum ETFs Face Continued Outflows

In contrast, Ethereum ETFs have been struggling, with $39.08 million in net outflows reported on November 18. This marked the beginning of a three-day outflow streak, totaling over $102.19 million in redemptions. BlackRock’s Ethereum ETF (ETHA) was the hardest hit, seeing $23.91 million exit the fund. Grayscale’s ETHE and Ethereum Mini Trust also experienced outflows of $13.28 million and $5.06 million, respectively.

The only bright spot among Ethereum ETFs was Fidelity’s FETH, which saw modest inflows of $3.17 million. The remaining Ethereum ETFs saw little to no movement on the day.

Market Trends and Bitcoin vs. Ethereum Performance

The contrasting momentum between Bitcoin and Ethereum ETFs comes as the overall cryptocurrency market remains relatively stable, with a minor 0.3% drop in market capitalization over the past 24 hours, according to data from CoinGecko.

In the market, Bitcoin (BTC) saw a 0.9% increase, trading at $91,533 at the time of writing. Ethereum (ETH) also recorded a slight gain of 0.7%, valued at approximately $3,133.