Bitcoin and Ethereum ETFs Post First November Inflows

Bitcoin and Ethereum exchange-traded funds have booked their first inflows of November, right as the broader market caught a strong bid. SoSoValue data reported by CoinGabbar shows Bitcoin ETFs recording a daily net inflow of $74.57 million on November 4, the first positive day this month, while Ethereum ETFs posted a daily net inflow of $53.02 million, also their first of November. XRP and Solana ETFs, by contrast, stayed quiet for another day, recording zero flows. The return of money into the two largest crypto funds matters because ETF flows have been one of the clearest guides to institutional sentiment all year: when they turn negative for days at a time, it usually means big investors are stepping back, and when they turn positive, it usually means the selling has paused, at least for now.

The inflows arrived alongside a broad market rally. CoinGecko data put the global cryptocurrency market capitalisation at $2.78 trillion, up 3.1 percent in 24 hours, with trading volume of $87.3 billion over the same stretch. Bitcoin dominance held at 58.1 percent and Ethereum dominance at 10.6 percent. Bitcoin itself traded at $80,348.29, up 2.5 percent on the day, and Ethereum traded at $2,413.62, up 4.1 percent. Those price snapshots come from November 4 to 5 and will keep moving, but the direction was unmistakable: after days of heavy selling, buyers returned across the market, and the ETF figures show that at least some of that buying came through regulated funds rather than only from traders on crypto exchanges.

Spot Bitcoin ETF November: Fidelity Leads as BlackRock Sells

The detail inside the Bitcoin ETF numbers tells a more interesting story than the headline total. Fidelity led the November 4 inflows with $236.72 million, followed by Ark and 21Shares at $19.90 million and Bitwise at $15.21 million. BlackRock bucked the trend with a $201.24 million outflow from its fund, which is why the net total for the day was a relatively modest $74.57 million despite Fidelity’s large inflow. Total value traded across Bitcoin ETFs that day was $3.59 billion. Cumulative net inflow since launch stands at $56.54 billion, and total net assets across Bitcoin ETFs now sit at $102.26 billion, equal to 6.35 percent of Bitcoin’s market capitalisation.

The mixed picture among issuers is a useful reminder that a net inflow figure hides as much as it reveals. Fidelity’s $236.72 million inflow and BlackRock’s $201.24 million outflow largely cancelled each other out, leaving a small positive net. That pattern can mean several things. It can reflect investors rotating between providers, perhaps for fee reasons or because of how their advisers allocate. It can reflect different client bases behaving differently, with one provider’s customers buying while another’s sell. Or it can simply be noise in a single day’s data. What it does not show is a unanimous institutional verdict. One day of inflows, even after a three-session outflow streak, is a data point, not a trend, and traders who treat it as proof that the selling is over are reading too much into a single print.

Ethereum ETF Net Inflow: BlackRock’s ETHA Leads the Rebound

Ethereum ETFs moved in step with Bitcoin. SoSoValue data shows a daily net inflow of $53.02 million on November 4, the first inflow of November for Ethereum funds. Cumulative net inflow sits at $12.12 billion, with $947.88 million in value traded that day. Net assets across Ethereum ETFs total $14.12 billion, or 4.77 percent of Ethereum’s market capitalisation. The fund-level detail was more evenly spread than for Bitcoin. BlackRock’s ETHA fund led with $32.75 million, followed by Fidelity at $19.24 million, Grayscale’s ETH fund at $13.60 million and Grayscale’s ETHE at $9.68 million. BlackRock’s ETHB fund recorded a $22.38 million outflow, the odd one out on an otherwise green day. Unlike Bitcoin, where one giant inflow and one giant outflow nearly cancelled out, Ethereum’s inflow was built from several moderate contributions, which reads as broader-based demand.

The Ethereum figures also matter because Ethereum funds have historically been more sensitive to sentiment swings than Bitcoin funds. A return to inflows alongside a 4.1 percent price rise to $2,413.62 suggests that investors were willing to add exposure to the second-largest cryptocurrency, not merely to Bitcoin as a safer proxy for the sector. That is a small but meaningful signal. When risk appetite returns, it usually returns to Bitcoin first, and Ethereum inflows tend to follow. The fact that both arrived on the same day points to a genuine, if modest, improvement in institutional mood rather than a Bitcoin-only rotation.

XRP Solana ETF Flows Stay Silent as Prices Rise Anyway

XRP and Solana ETFs recorded zero net inflows on November 4, the second silent day of the month for XRP funds and another quiet day for Solana. Cumulative net inflow for XRP ETFs stands at $1.81 billion, with net assets of $1.49 billion, or 1.80 percent of XRP’s valuation. The fund had logged an outflow of $529.51 thousand on November 2. Solana ETFs have stayed silent through all of November so far, with cumulative net inflow of $1.47 billion and net assets at $1.40 billion, or 2.51 percent of Solana’s valuation. Zero flows do not mean zero interest: they mean that on that day, creations and redemptions balanced out exactly, or that no new money entered or left through the ETF channel. For newer funds with smaller asset bases, quiet days are normal, and they should not be read as a verdict on the underlying asset.

What makes the silence interesting is that both tokens rose sharply anyway. XRP traded at $1.32, up 3.1 percent, and Solana traded at $96.61, up 4.1 percent. In other words, the price action for both assets was driven by spot and derivatives traders rather than by ETF flows. The ETF channel is an important source of demand for Bitcoin and Ethereum, but for XRP and Solana it remains a small part of the overall picture.

There is also a technical story behind the scenes for XRP. A post on X noted that the XRP Ledger is rolling out a security fix expected on November 4, backed strongly by its validators. The issue sits inside PaymentBurn, a permission meant only to destroy tokens. The ledger’s own documentation flagged that, before the fix, a holder of this permission could also create new tokens in certain cases, meaning a company allowed only to burn redeemed stablecoin tokens might have been able to mint new ones instead. A fix of that kind is routine maintenance for a mature network, but it matters for institutional confidence: fund managers considering XRP exposure want to know that the underlying ledger is being maintained and that its validators respond quickly to security issues. Solana, meanwhile, had its own institutional news, with Schroders, one of the world’s largest asset managers with $1.1 trillion in assets under management, bringing an emerging markets debt fund to Solana through a partnership with Centrifuge, its first fund built on Solana.

What Next for Crypto ETF Flows

So what comes next? Bitcoin and Ethereum ETFs have reopened the inflow tap, and a $2.78 trillion crypto market capitalisation shows buyers are back. Whether XRP and Solana ETFs follow depends on investor appetite picking up, and on how the XRPL fix and the Schroders-Solana deal land with institutions. The proposed crypto bill in Congress could shape the rules down the line too, though it is early days. House Democrats are discussing a new bill for the next Congress that would reshape crypto oversight, according to a Wu Blockchain report citing journalist Eleanor Terrett. The plan builds on Representative Maxine Waters’s 2025 Crypto Investor and Consumer Bill of Rights amendment to the CLARITY Act and, citing three industry sources, could expand the SEC’s oversight, limit the CFTC’s role, and add ethics rules on crypto activity by President Trump and other federal officials. Republicans have called it a messaging bill.

Market analysts tracking fund flow data note that the return of Bitcoin and Ethereum inflows, paired with a resurgent $2.78 trillion crypto valuation, suggests institutional appetite is rebuilding after a quiet stretch. The gap between large-cap ETF activity and the continued silence around XRP and Solana funds highlights how selective big-money allocators remain right now. None of this guarantees future inflows, and past fund activity does not predict what happens next. The honest reading of November 4 is modest: after three sessions of outflows totalling more than $1.1 billion, the two largest crypto ETFs took in fresh money on the same day the market rallied. That is a better sign than another day of selling, but it is only one day, and the next few prints will tell us whether it was a turn or a pause.

FAQ

How much did Bitcoin and Ethereum ETFs take in on November 4?

Bitcoin ETFs recorded a net inflow of $74.57 million and Ethereum ETFs $53.02 million, according to SoSoValue data, the first positive day of November for both funds.

Which funds led the inflows?

Fidelity led Bitcoin inflows with $236.72 million, while BlackRock recorded a $201.24 million outflow. For Ethereum, BlackRock’s ETHA led with $32.75 million, followed by Fidelity at $19.24 million and Grayscale’s ETH at $13.60 million.

Why did XRP and Solana ETFs record zero flows?

Both funds saw no net creations or redemptions on the day. XRP ETFs have cumulative net inflows of $1.81 billion and Solana ETFs $1.47 billion, and quiet days are normal for smaller, newer funds.

What is the XRPL security fix?

The XRP Ledger rolled out a fix expected on November 4 for its PaymentBurn permission, which is meant only to destroy tokens. Before the fix, a holder of that permission could also create new tokens in certain cases, so the update closes a real security gap.

What could shape ETF flows next?

The next daily flow prints will show whether November 4 was a turn or a pause. Longer term, the proposed House Democrats crypto bill, the XRPL fix, and deals like Schroders bringing a fund to Solana could all influence institutional appetite.

Source: CoinGabbar/SoSoValue

Related reading on MM Crypto Analysis Web

• Bitcoin Erases Post-Election Rally as Wall Street Suffers Worst Day in 18 Months
• DTCC Puts Tokenized Stocks, ETFs and Treasuries Into Production
• DeFi Tokens Lead Crypto’s Midterm Rebound as Futures Volume Jumps

More in Markets on MM Crypto Analysis Web.