Spot Bitcoin exchange-traded funds (ETFs) saw $129 million in net inflows on November 25, while Ether spot ETFs added another $78 million amid renewed demand across major issuers.
Key Takeaways:
Spot Bitcoin and Ether ETFs saw strong demand on November 25, pulling in $129 million and $78 million in net inflows. Grayscale’s new Dogecoin ETF debuted with $1.4 million in volume. Meanwhile, spot XRP ETFs attracted nearly $130 million on their first day.Fidelity Wise Origin Bitcoin Fund (FBTC) led the day with $170.80 million in inflows, followed by BlackRock’s iShares Bitcoin Trust (IBIT) at $83.01 million, according to data from SoSoValue.
Other products, including Bitwise Bitcoin ETF (BITB) and Ark 21Shares Bitcoin ETF (ARKB), saw notable outflows, reflecting mixed sentiment among smaller issuers.
Cumulative inflows across all spot Bitcoin ETFs have now reached $57.61 billion. Trading activity remained steady, with over $4.69 billion in daily volume.
Ether ETFs Attract $78M in Inflows
Ether spot ETFs recorded $78.58 million in net inflows on November 25, marking the third consecutive day of positive momentum.
The BlackRock iShares Ethereum Trust (ETHA) led with $46.09 million in inflows, followed by the Fidelity Ethereum Fund (FETH) at $47.54 million, reflecting strong institutional appetite.
The Grayscale Ethereum Mini Trust (ETH) added $8.29 million, while the Grayscale Ethereum Trust (ETHE) saw a significant $23.33 million outflow, continuing its recent trend of redemptions.
Meanwhile, Grayscale’s new spot Dogecoin ETF (GDOG) debuted with $1.4 million in trading volume, falling well below analyst expectations of $12 million, though still considered average for a typical launch.
A second spot Dogecoin ETF from Bitwise (BWOW) is set to begin trading next, expanding investor access to DOGE exposure.
The new products follow a broader wave of crypto ETF launches after the SEC eased listing rules.
Unlike the earlier DOJE fund, which cannot directly hold Dogecoin and saw a stronger $17 million debut, both Grayscale and Bitwise’s ETFs are filed under rules that allow them to directly hold the token.
Meanwhile, newly launched spot XRP ETFs saw far larger inflows, pulling in nearly $130 million on their first day.
ETF analysts Eric Balchunas and James Seyffart estimate that the rapid pace of DOGE and XRP product launches is only the beginning, with over 100 new crypto ETFs expected in the next six months.
Bitcoin Breaks Its November Trend as Analysts See Whale Demand Returning
Bitcoin is set to end November in the red, breaking its long-standing pattern as the strongest month of the year.
Historically averaging gains of more than 40%, Bitcoin now trades over 20% below its monthly open, raising doubts about whether seasonal trends still matter after October also failed to deliver its usual positive performance.
Bitfinex analysts attribute the recent decline to overheated buying between $106,000 and $118,000, noting that many of those buyers are now capitulating at a loss.
Short-term holders are under pressure as Bitcoin trades below their average cost basis of $86,787, something that has happened only three times since early 2024.
As reported, Bitcoin may remain stuck between $60,000 and $80,000 through the end of December if the Federal Reserve leaves interest rates unchanged at next month’s FOMC meeting, according to analysis from XWIN Research Japan.
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