Key Notes
- Solana ETFs saw $9.7 million in inflows, marking seven straight days of gains.
- Bloomberg’s Eric Balchunas called crypto ETFs the most fascinating development in modern finance.
- BTC and ETH ETFs continued to bleed, marking six straight days of outflows.
US-based Solana spot ETFs recorded their seventh consecutive day of entries on November 5, indicating massive demand as Bitcoin
BTC
$103,029
24h volatility:
3.5%
Market capitalization:
$2.05 tonnes
Flight. 24h:
$65.60 billion
and Ethereum
ETH
$3,424
24h volatility:
5.7%
Market capitalization:
$412.92 billion
Flight. 24h:
$34.94 billion
products have faced continued withdrawals.
According to data from SoSoValueSolana ETFs saw a combined net inflow of $9.7 million, with Bitwise’s BSOL bringing in $7.46 million and Grayscale’s GSOL adding $2.24 million. This brings the total net asset value of Solana’s ETF to $531 million and cumulative inflows to $294 million, representing approximately 0.59% of SOL’s total market capitalization.
On November 5 (ET), U.S. spot Bitcoin ETFs saw a net outflow of $137 million, marking six consecutive days of net outflows. Spot Ethereum ETFs saw a net outflow of $119 million, also for the sixth consecutive day. In contrast, US Solana spot ETFs saw a net inflow of $9.7… pic.twitter.com/6fzcGlrGEG
-Wu Blockchain (@WuBlockchain) November 6, 2025
Meanwhile, Bitcoin and Ethereum ETFs struggled to attract buyers, with spot BTC ETFs seeing $137 million in outflows, marking six consecutive days of redemptions, while spot Ethereum ETFs saw $119 million in outflows during the same period.
Additionally, the Hedera spot ETF saw a net inflow of $1.92 million, while the Litecoin ETF saw no new inflows.
Institutional accumulation amid falling prices
Despite the downward trend in flows into Bitcoin ETFs, data from CryptoAs to shows that, excluding Grayscale’s GBTC, Bitcoin ETFs saw a surprising inflow equivalent to around 5,000 BTC on November 4 when the Bitcoin price fell to a low of $98,000.
Change in total BTC holdings for Bitcoin ETF | Source: TradingView
Analysts call this “classic value-based accumulation,” in which long-term investors buy strategically during market weakness rather than following momentum. This type of institutional buying, which occurs during price declines, could provide a base of support beneath the market.
However, for this signal to confirm a broader reversal, the 7-day average flow must turn positive. In the meantime, incoming flows constitute a counter-indicator, indicating strong demand in a context of broken market.
The ETF landscape: innovation and volatility
In the latest episode of ETF Prime, Bloomberg Intelligence’s Eric Balchunas described the crypto ETF segment as the most exciting area in finance, calling the launch of the Bitcoin ETF “the biggest debut in the history of the funds industry.”
He singled out BlackRock’s iShares Bitcoin Trust (IBIT), now the company’s most revenue-generating ETF, just a year after its launch, comparing its impact to Tiger Woods’ performance at the 1997 Masters.
Market caution and warning from Citi
In its recent report, Wall Street giant Citi said October’s selloffs left a lasting dent in investor confidence, particularly among new ETF buyers who have shied away from risk. Analysts noted that steady inflows into Bitcoin ETFs were once a key pillar of support, but that momentum has now slowed, leaving sentiment fragile.
The report also highlighted on-chain data. For example, the number of large Bitcoin holders has declined while retail holdings continue to increase, suggesting that long-term investors could profit.
Funding rates fell, indicating a reduced appetite for leverage, and Bitcoin fell below its 200-day moving average, a technical red flag for traders who rely on trend indicators. Citi believes that for a recovery, ETF flows must stabilize and return to stable flows. Until then, the market remains vulnerable to further corrections.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article is intended to provide accurate and current information, but should not be considered financial or investment advice. Because market conditions can change quickly, we encourage you to verify the information for yourself and consult a professional before making any decisions based on this content.
A crypto journalist with over 5 years of industry experience, Parth has worked with leading media outlets in the crypto and finance world, gaining experience and expertise in the field after surviving both bear and bull markets over the years. Parth is also the author of 4 self-published books.
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