Bitcoin and Ethereum spot exchange-traded funds (ETFs) faced significant outflows on November 20th, a signal that the market is experiencing shifts in investor sentiment. While Bitcoin ETFs witnessed $903 million in net withdrawals, marking the second-largest outflow ever recorded, Ethereum ETFs saw another day of continuous losses with an outflow of $262 million, continuing an eight-day streak. This trend suggests investors are moving away from major cryptos like Bitcoin and Ethereum, possibly seeking to take profits or rebalance their portfolios in response to ongoing market volatility.
However, Solana broke out of this trend by posting a notable $23.66 million net inflow for its ETF. This unexpected surge in inflows might be attributable to the growing popularity of Solana within DeFi and NFT ecosystems. Institutional investors are increasingly looking to Solana as a promising alternative or hedge against the volatility of Bitcoin and Ethereum.
The persistent outflows from Bitcoin and Ethereum ETFs point towards broader uncertainty in the market, while Solana’s positive inflows offer a potential sign of resilience and opportunity for growth. Whether this trend will continue is something that investors are closely watching.