$70M in inflows this week: Bitcoin ETFs are on the rise again

The crypto market, which recently looked like an emotional desert, is gradually regaining its colors. Nothing from a red carpet, certainly. But the momentum is there. The massive outflows have calmed down, the whales are rearing their heads, and even ETFs – these financial products sometimes perceived as boring – seem to be attractive again. Between timid optimism and encouraging technical signals, one thing is certain: something has changed. And bitcoin is no longer alone. Ethereum, Solana… the whole pack is trying to break through.

Bitcoin becomes desirable again: whales change course

After four weeks of bleeding, totaling $4.35 billion in losses, Bitcoin ETFs are breathing again. Last week, $70 million returned to the coffers. The figure is modest but the symbolism is strong. Major investors resurface, the curves breathe.

Bitcoin's RSI is nearing the oversold zone, which may indicate a bottom. Several major players have reopened long positions, which suggests a possible rebound towards the $100,000 to $110,000 zone.

Certainly, BlackRock suffered 113.7 million outflows on its IBIT. But Fidelity and ARK 21Shares compensated with $77.5M and $88M in inflows, respectively. The dynamic is more diffuse, but very real. Doubt recedes, conviction returns.

BlackRock, ETH and the return of the crypto market titans

BlackRock's IBIT ETF has become its most profitable product in less than a year. It brings in $245 million in fees per year and is already worth $70 billion. This fund holds 3.9% of global BTC. The institutional person is no longer a spectator.

But this week, it was Ethereum which surprised. The ETHA fund captured 257.2 million in four days, or 82% of inflows on ether. The weekly total reached 312.6 million, erasing three weeks of decline, including a drop of 728.6 million in mid-November.

Current prices do not reflect the improving macroeconomic context. If investors reevaluate their expectations, the upside potential of Bitcoin is underestimated, analyzes André Dragosch of Bitwise Europe.

Ether ETFs now total 19.15 billion in assets, or 5.2% of Ethereum's capitalization. The revenge is organized in silence, but it makes noise in the feeds.

Crypto: Solana slows down, ETFs are agitated, confidence is taking shape

Solana broke its 21-day streak of positive inflows with an outflow of 8.1 million on Wednesday. But from Friday, the tide turned: 5.4 million returned. Grayscale ($4.33 million) and Fidelity ($2.42 million) fueled the rebound, although 21Shares recorded $1.4 million in withdrawals.

This hesitation is not isolated. On Friday, $3.4 billion was traded on Bitcoin ETFs. For Ethereum, 1.11 billion circulated. Sustained activity, despite the still fresh scars.

James Butterfill, researcher at CoinShares, makes a strong observation: last month represents the third largest series of withdrawals since 2018, with a 36% drop in assets under management.

The crypto industry is still cashing in, but it’s moving. Financial products, often cold, have become the thermometers of a market seeking to revive.

What to remember this week

• $70M in net inflows for Bitcoin ETFs after four weeks of red;
• $90,902: current price of BTC, down slightly after peaking at $91,000;
• $312.6M injected into Ethereum ETFs, with five consecutive days of positive flows;
• $5.4 million in admissions for Solana despite an interruption in its series;
• $245M: the annual revenue generated by BlackRock's IBIT ETF.

The way things are going, one question arises: has bitcoin finished falling? A well-known industry analyst recently identified an explosive setup. If the flows confirm the trend, BTC could regain altitude faster than expected. The signals are aligning. It remains to be seen whether the rocket is ready for another takeoff.