U.S. Bitcoin ETFs return to net inflows after 5-day slide

According to SoSoValue, the funds took in $75.47 million, led by $60.61 million into BlackRock’s iShares Bitcoin Trust (IBIT) and $53.84 million into Grayscale’s Mini Bitcoin Trust. The bounce came a day after IBIT posted a record $523 million daily outflow, its largest since launch.

Yesterday’s inflows were partly offset by withdrawals from two funds: Fidelity’s Wise Origin Bitcoin Fund (FBTC) saw $21.35 million in net outflows, and VanEck’s Bitcoin Trust (HODL) lost $17.63 million.

From Nov. 12–18, U.S. bitcoin ETFs shed more than $2.26 billion. Over that stretch, bitcoin fell below $90,000 after hitting an all‑time high above $126,000 in recent weeks, then edged up 0.72% in the past 24 hours to $92,200, according to The Block’s price page.

Macro uncertainty continues to weigh on risk appetite. The Federal Reserve’s December decision looms, and Chair Jerome Powell’s recent remarks have dampened hopes for another rate cut next month. The CME FedWatch Tool now assigns a 33.8% chance of a 25 bp cut next month, down from 48.9% earlier this week. Sentiment remains fragile: the Crypto Fear & Greed Index sits at 11 (extreme fear).

Kronos Research CIO Vincent Liu told The Block on Wednesday that recent ETF redemptions reflect “institutional recalibration rather than capitulation,” adding that risk‑on appetite could return once macro signals are clearer.

Flows in other crypto funds were mixed. U.S. spot ether ETFs logged a seventh straight day of net outflows, with $37.35 million withdrawn Wednesday. Newly launched spot Solana ETFs attracted $55.6 million the same day; with two new products debuting Wednesday, there are now six spot Solana ETFs in the U.S. Canary Capital’s spot XRP ETF took in $15.8 million, its Hedera (HBAR) fund added $577,180, and its Litecoin ETF saw zero net flows.

Some analysts have also pointed to thinner liquidity as a factor behind price and flow swings, noting conditions tightened during the 43‑day U.S. government shutdown. Liquidity is expected to improve as normal operations resume.

As we covered previously, in September 2025 the Securities and Exchange Commission approved rule changes that let NYSE, Nasdaq, and Cboe list spot crypto ETFs through a streamlined process with a 75-day review, replacing the earlier 19b-4 plus registration path. The framework extends beyond bitcoin and ether to assets such as Solana and XRP, with initial products under the rules slated as early as October 2025.