Spot cryptocurrency exchange-traded funds (ETFs) rebounded over the weekend, with Bitcoin, Ether, and Solana funds all seeing inflows after a week of volatility and declines.
On Friday, the Spot Bitcoin (BTC) ETF attracted $238.4 million in net inflows following a wave of large redemptions the previous day. BlackRock’s IBIT drove the turnaround with $108 million, while smaller contributions from BITB, ARKB and BTCO helped boost sentiment. Even Grayscale’s GBTC, long under pressure from capital outflows, added $61.5 million, according to data from Pharcyde Investors.
This recovery comes after it posted a huge outflow of $903 million on Thursday, which was the biggest outflow day in November and one of the biggest single-day outflow days since the product was launched in January 2024.
During the day, redemptions affected nearly all issuers, including IBIT with a loss of $355.5 million, FBTC with a loss of $190.4 million, and GBTC with outflows of $199.4 million.
Related: BlackRock Bitcoin ETF sheds $2.47 billion in November as outflows hit record $3.79 billion
Ether Fund stops outflow for 8 consecutive days
After eight consecutive redemption sessions, the Ether (ETH) ETF saw $55.7 million in inflows on Friday, ending its losing streak. This was primarily due to Fidelity’s FETH inflow of $95.4 million.
This reversal follows a tough period from November 11th to 20th, when Ethereum funds collectively outflowed $1.28 billion, making it one of the longest and deepest red waves since its launch.
Meanwhile, the Solana (SOL) ETF continues to outperform the broader altcoin market. Since launch, the five Solana funds have attracted $510 million in net inflows, led by Bitwise’s BSOL with $444 million. The group has currently recorded 10 consecutive days of inflows.
Related: ARK Invest, Bitcoin ETF, Bullish, Circle, Ends the Week with a Buy on BitMine
Ether traders tentatively add longs
Ether has tumbled this week, dropping 15% from Wednesday to Friday, liquidating $460 million in leveraged long positions.
But despite the decline since August highs and a total drawdown of 47%, derivatives data shows top traders are slowly adding long exposure. Forward funding rates rose from 4% to 6%, showing early signs of stabilization, although bullish demand remains weak.
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