Bitcoin ETFs have their best day since the October crash. The data in fact shows $524 million in net inflows. A rebound which could well signal the end of the institutional de-risking phase. More details in the paragraphs that follow!
In brief
- Bitcoin ETFs see $524 million in net inflows, signaling a marked institutional return.
- Solana is also capturing positive flows, while Ethereum continues to experience massive and repeated withdrawals.
Bitcoin regains favor with ETFs
On Tuesday, November 11, US-listed Bitcoin ETFs recorded $524 million in net inflows. A record since October 7! BlackRock (IBIT) captured $224.2 million, Fidelity (FBTC) $165.9 million and ARK Invest (ARKB) $102.5 million.
These flow mark a turning point after a month of collection. Many investors have fled crypto products exposed to bitcoin. They also fit into a context of post-crash debt reduction.
We particularly refer to the K33 Research indicator which displays a decline of -29,008 BTC over 30 days. This is a release sequence not seen since March. For crypto analysts, this phase reflects a temporary reduction in risk exposure (without calling into question the bullish cycle).
Not all crypto ETFs are benefiting from the current craze
Ethereum ETFs suffered $107 million in withdrawals on the same day. They therefore continue a negative series which exceeds 615 million dollars this month. At the same time, Solana seduced with 8 million dollars in entries. Enough to confirm a basic trend. Since their launch, Solana ETFs have accumulated $350.5 million.
The crypto market awaits the CPI on November 13, which will prove decisive in confirming monetary easing. Moderate inflation could indeed prolong the recovery phase. If ETFs continue to attract capital, the technical threshold of $108,000 on bitcoin could give way. But without a strong catalyst, a consolidation around $100,000 remains likely.
The momentum of Bitcoin ETFs is in any case reviving debates on the role of institutional funds in the next phase of the market. As macro signals evolve, the question remains: how far will these flows push adoption and more importantly, who will stay on board when the next turn comes?
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