Bitcoin exchange-traded funds (ETFs) saw a modest recovery on Friday, attracting $228 million in investments, primarily driven by Fidelity’s Bitcoin fund. This rebound came after a challenging day on Thursday, during which these funds experienced their second-largest daily outflows in history, shedding over $900 million in assets.
The total assets of the 11 Bitcoin-focused funds have been on a downward trajectory, coinciding with a significant drop in Bitcoin’s price, which fell to its lowest level since April, reaching $81,000. This decline marks a substantial decrease of about 33% from its all-time high of over $126,000 achieved in early October. Contributing factors to this downturn include macroeconomic uncertainties, particularly regarding the Federal Reserve’s interest rate policies, as well as concerns surrounding a potentially overheated artificial intelligence market.
For the week, spot Bitcoin ETFs have lost nearly $1.2 billion in assets, ranking as the third-highest weekly outflow in the 22-month history of such funds, despite Friday’s investment boost. November’s outflows have amounted to approximately $3.79 billion for the 11 funds, a record that matches the all-time high set earlier this year in February, as per data from U.K. asset manager Farside Investors.
Leading the outflows this week was BlackRock’s iShares Bitcoin Trust (IBIT), which experienced more than $1 billion in redemptions. Additionally, Grayscale Bitcoin Trust (GBTC) and Fidelity’s Wise Origin Bitcoin Fund (FBTC) saw outflows of around $172 million and $116 million, respectively. In contrast, on Friday, FBTC was able to bring in $108 million—the highest among Bitcoin ETFs—while the Grayscale Bitcoin Mini Trust ETF (BTC) and GBTC also recovered with inflows of $61.5 million and $84.9 million.
The decline in Bitcoin ETF investments coincides with the recent launch of new ETFs targeting alternative digital assets such as Solana, XRP, and Dogecoin, with more products expected to list next week. The newly introduced Canary Capital XRP ETF (XRPC) made waves with $58 million in daily net investments, marking one of the strongest opening days for an ETF in 2025, closely followed by Bitwise Solana Staking ETF (BSOL) with $57 million. In just three weeks, BSOL has secured over $660 million in assets and has not faced any outflows.
The strong performance of these alternative asset-based investments underscores a robust investor appetite for digital currencies. Meanwhile, the U.S. Securities and Exchange Commission is currently reviewing numerous applications for funds focusing on individual altcoins and a variety of crypto strategies.
Bloomberg Senior ETF Analyst Eric Balchunas offered an optimistic perspective on Bitcoin’s potential for recovery, referencing its historical resilience in the face of past downturns. He noted that despite the current bearish sentiment and criticism surrounding Bitcoin’s recent plummet, the asset has previously demonstrated an uncanny ability to rebound after significant declines. Balchunas likened Bitcoin’s endurance to that of well-established companies, asserting its unique position in the investment landscape.
