The Coin Republic

#marketpullback
#etf WATCH: Van Eck BTC Spot ETF marked its second-biggest BTC sale as BTC Spot ETFs bled on Monday. Fidelity and Canary debuted SOL ETFs today as the SOL Spot ETFs extend the inflow streak. Canary’s XRP ETF posted inflows on its second day as the only US XRP Spot ETF.

Bitcoin Spot ETFs reported net outflows of $254 million on Monday (Nov 17) led by BlackRock. BlackRock sold ~1550 $BTC ($145.6M). Van Eck marked its second-biggest BTC sale ($23.3M), its biggest was in July 2024 (~$38M).

Ethereum Spot ETFs reported net outflows of $182.7 million, led by BlackRock (ETHA). BlackRock has been selling $ETH aggressively. ETHA shed $193 million in ETH while Grayscale’s two ETH ETFs (ETHE and ETH) collectively purchased roughly $13 million in ETH.

Solana Spot ETFs marked net inflows of $8.2 million, extending the perfect net inflow streak. Van Eck’s Solana Spot ETF (Ticker: VSOL) became the third Solana ETF to trade on Nasdaq.

Notably, $SOL price was down over 25% over the month as of press time, despite the positive ETF inflows.

XRP Spot ETF XRPC, the only XRP Spot ETF in the US, reported net inflows of $25.41 million on Monday.

#strategybtcpurchase
JUST IN: Strategy just announced that it bought 8,178 $BTC at an average cost of ~$102,171. As of Nov 16, Strategy 'hodls' 649,870 BTC. The total acquisition cost of was $835.6 million.
Strategy's Founder-Chairman, Michael Saylor, in a Nov 15 X post (Saturday), noted that the Bitcoin-focused Digital Asset Treasury (DAT) company bought BTC throughout the week.
Strategy's last purchase report was on Nov 10. On Nov 10th, Strategy announced the acquisition of 487 BTC for ~$49.9 million at ~$102,557 per bitcoin.
In 2025, Strategy has bought 203,471 BTC so far. Its biggest purchase in 2025 was a 22,048 BTC haul (March) at an average cost of $86,969. This year, its largest acquisition by cost was a 21,021 BTC haul (July) valued at $2.4 billion.

Data source: Strategy.com
Image source: Michael Saylor on X

#etf WATCH:

If there's a market pullback, this is probably what it looks like. BlackRock drove crypto ETF net outflows on Friday with its biggest ever BTC sell-off and a massive ETH sell-off.

The market is increasingly expecting BTC to reach the $90,000 mark. Crypto ETF flows for Friday suggest that institutions expect the crypto market to pull back. Retailers and institutions lost dearly yesterday evening as liquidations crossed the $1 billion mark, concentrated (nearly 90%) in longs.

BlackRock marked its biggest BTC sell-off since inception ($463M) on Friday as BTC Spot ETFs reported another day of net outflows. BlackRock also drove net outflows for ETH Spot ETFs yesterday.

BTC Spot ETFs (-$492M): The sell-off was concentrated in BlackRock (IBIT), which marked net outflows of $463.1M. Fidelity (FBTC) sold $2.1M and WisdomTree (BTCW) sold $6M; GBTC sold $24.1M BTC.

Notably, Grayscale Bitcoin Mini (BTC) bought $4.2M BTC, the only BTC Spot ETF to purchase BTC yesterday. Also, yesterday was WisdomTree's (BITCW) biggest outflow since April 7th 2025. BTCW is the 12th biggest BTC Spot ETF in terms of assets under management (AUM).

ETH Spot ETFs (-$173M): ETH Spot ETFs saw ~$178M in net outflows. BlackRock (ETHA) sold $173.3M. Bitwise (ETHE) sold $4.6M. BlackRock's Friday ETH sell-off was its biggest since the October 13th bloodbath.

SOL Spot ETFs: BSOL marked net inflows of $12M yesterday; Grayscale (GSOL) didn’t buy or sell SOL. This was much bigger than yesterday's flows ($1.4M), which were the lowest since inception. Friday's net inflows mean the SOL Spot ETFs' net inflows streak extended to two weeks.

tl;dr:
$BTC Spot ETFs' net outflows came in at $492M on Friday, the third-highest of the week. $ETH Spot ETFs' net outflows for Friday were $173M, also the week's third-highest. $SOL Spot ETFs marked $12M in net inflows, extending the perfect streak.
#MarketPullback
Data source: Coinglass

BREAKING: ETFs are dumping hard, BTC might be staring at a pullback below $90K.
#etf WATCH: $BTC Spot ETFs net outflows for Thursday came in at $866.7M, the third biggest outflow since BTC Spot ETFs started trading in Jan 2024. Grayscale led the dump with over $380M outflows from its two BTC Spot ETFs (BTC & GBTC).
$ETH Spot ETFs recorded sharp net outflows of ~$260M, the biggest outflow since October 13th, 2025.
$SOL Spot ETFs extended the net inflow streak, but Thursday's inflows were the lowest ($1.4M) since inception.
We have highlighted a potential pattern involving BTC price and multi-day BTC Spot ETF outflows on the Coinglass flows chart. If the present dumping spell is like the previous ones, BTC is very likely heading downwards.
Notice the outflow streaks between February and April this year. BTC almost dropped to the $73,000 mark by April 9th, just when the outflow streak concluded.
However, note that this is not an established causal relationship; it's a potential correlation.
Source: Coinglass
Image description: orange circles represent periods when BTC price went downwards and ETFs recorded net outflows on consecutive days or with few days of inflows. Chart by Coinglass
#MarketPullback

JUST IN:
Canary Capital's $XRP ETF (Ticker: XRPC) clocked $245M in net inflows on its first trading day (Nov 13th, 2025). Trad vol was recorded at $59M at the end of the day.
James Seyffart, Senior ETF analyst at Bloomberg, highlighted that XRPC's trad vol was the biggest for any ETF's launch day in 2025.
Canary Capital flows data was shared by Canary Capital on their official X account. None of the ETF data aggregators, including Coinglass, SoSoValue, and Farside displayed data for XRPC as of November 14th.

#etf Watch: Wednesday saw $BTC and $ETH Spot ETFs shedding while $SOL Spot ETFs reflected optimism despite SOL’s constricted price range. Canary Capital’s LTC Spot ETF (LTCC), the sole approved LTC Spot ETF in the US, reported zero flows yesterday.


BTC Spot ETFs net outflows came in at $278M on Wednesday when BTC was struggling to hold on to the $104,000 mark. ETH Spot ETFs saw net outflows of $183M with BlackRock accounting for roughly half that figure ($90M). SOL Spot ETFs extended the positive net inflows streak to 11 days with a strong $18.1M (in SOL) addition.


BTC jitters as US gov reopens: BTC fell below the $101,000 mark during Wednesday’s US trading hours. As several forecasts for the final price zone of the year have started streaming in, US crypto spot ETFs shed BTC and ETH yesterday.


BTC Spot ETFs net outflows were concentrated in Fidelity (~$132M); Ark21 Shares sold a sizable amount of BTC ($85M). Other sellers included Grayscale and BlackRock. As of Wednesday, US BTC Spot ETFs’ assets under management (AUM) were roughly $140.7B. Wednesday’s outflows were less than 1% of AUM.


ETH ETFs' net outflows were led by BlackRock (~$90M); Grayscale’s two ETFs collectively dumped roughly $72M. Fidelity trimmed its holdings by around $23M.


Notably, Grayscale marked its biggest SOL acquisition (36.24K SOL) since SOL Spot ETFs began trading on October 28th. However, in USD terms, Grayscale’s inflow amount for Wednesday ($5.6M) was lower than Tuesday’s inflow ($5.9M). On Tuesday, SOL’s trading range was $151 to $171, while on Wednesday, the range was $151 to $161, reflecting a constricting price trend.


LTCC flows for Wednesday were displayed as ‘$0M’ on SoSoValue, however, multiple days showed zero flows. Therefore, while it's possible that the data update was delayed, it’s likely that Canary didn’t buy or sell LTC on Nov 12th. Note that ETF flow data updation is inconsistent. As of Wednesday, the cumulative net inflows for LTCC inflow were $4.53M, which is over 80% of the AUM at start ($5.53M).

Sources: Coinglass, SoSoValue

ETF Watch: Tuesday, November 11th, 2025
On Tuesday, $BTC Spot ETFs recorded sharp net inflows, $ETH Spot ETFs shed ETH, while $SOL Spot ETFs maintained their perfect net inflow streak.
BTC Spot ETFs reported net inflows of $523.98M concentrated in BlackRock’s IBIT. Fidelity and Ark21 Shares each scooped up over $100M. Grayscale also added a modest amount. No BTC sellers yesterday among the ETFs.
Yesterday’s net inflows were the biggest net inflows since October 7th, 2025. This could be big as institutions might be perceiving BTC’s present price levels as strong support zones. Moreover, Strategy only recently bagged over 600 BTC, buttressing the perception that $103,000 zone is a strong support level.
ETH Spot ETFs reported net outflows yesterday at $107.1M with Grayscale accounting for the lion’s share of sales (~$75M). BlackRock sold around $19M in ETH, while Bitwise, Fidelity, and VanEck sold less than $5M each. None of the ETH ETFs purchased ETH on Tuesday.
SOL Spot ETFs marked yet another day of net inflows at $8M in SOL. Tuesday’s inflows came in higher than the previous day's inflows of $6.8M. SOL Spot ETFs marked the 11th day of the perfect net inflows streak.
The latest addition to the ETFs segment is the Hong Kong ETFs. As of Wednesday, November 12th, 2025, three crypto Spot ETFs are registered in Hong Kong, a Special Administrative Region (SAR) of China. These include China AMC, Harvest, and Bosera & Hashkey. These three entities maintain BTC, ETH, and SOL ETFs. Collectively, these ETFs hold roughly $317.2M in BTC; the ETH Spot ETFs hold around $115.2M in ETH; and the SOL Spot ETFs have just over $11M SOL.

Data source: Coinglass
#ETFs

ETF Watch: Monday saw little activity by the Crypto Spot ETFs.
$BTC Spot ETFs added just $1.2M, $ETH Spot ETFs reported zero flows, and $SOL ETFs maintained their perfect streak with another day of positive flows. This lack of strong activity comes as market observers noted that the crypto market showed exhaustion, and institutional interest in BTC had dipped.
BTC Spot ETFs recorded one of the smallest net inflows in their brief history. Yesterday, only Bitwise (BTCB) bought BTC (~+1.2M); other BTC Spot ETFs recorded no activity. Therefore, yesterday's net inflows were just $1.2M.
ETH Spot ETFs recorded no outflows or inflows yesterday.
SOL Spot ETFs scooped up around $6.8M yesterday, marking yet another day of net inflows. Both Bitwise and Grayscale bought SOL yesterday.
Source: Coinglass
#ETFs

JUST IN: Strategy buys 487 BTC at ~$102,557 per bitcoin
Strategy's BTC Yield as of Nov 10, 2025: 26.1%
Strategy now 'hodls' 641,692 $BTC acquired for ~$47.54 billion at ~$74,079 per bitcoin
Source: Michael Saylor
Image: screenshot of the analytics page on Strategy.com

#MSTR #StrategyBTCPurchase

ETF Watch: November 7th, 2025

BTC and ETH Spot ETFs are back to net outflows after yesterday's net inflows. SOL Spot ETFs maintained a perfect inflow record.

Fidelity leads net outflows in Bitcoin (BTC) Spot and Ethereum (ETH) Spot ETFs; BTC ETFs clock week's second-highest outflow. BlackRock and Invesco buy ETH. Solana (SOL) ETFs maintain a perfect inflow record streak.

Spot BTC ETFs' net outflows came in at -$558.4M, led by Fidelity (-$256M). This is the second-highest net outflow since Tuesday's $566M. Grayscale continues to sell BTC. Notably, Grayscale is down over $24B since BTC ETFs were greenlit on January 11th, 2024.

Spot ETH ETFs net outflows were $46M, again led by Fidelity ($72M). BlackRock bought ETH worth $34.4M; Invesco picked up $2.6M in ETH.

Spot SOL ETFs maintained a perfect inflow record with net inflows of $12.7M. Notably, Grayscale and Bitwise have not sold any SOL since SOL Spot ETFs were launched on October 27th, 2025.

Source: Coinglass $BTC $ETH $SOL #ETFs

#ETFs

JUST IN: BTC and ETH Spot ETFs break net outflow streak, add $239M and $12.5M respectively.

ETF Watch: Bitcoin Spot ETFs break net outflow streak after six days with $239 million in net inflows on November 6th. At press time, BTC was trading at $101,700, down 1.6% intraday.

Ethereum Spot ETFs also broke the net outflow streak after six days with an addition of $12.5 million net inflows. ETH trading price at press time: $3,348, down 1.2% intraday.

Solana Spot ETFs scooped $29.2 million worth of SOL, extending the net inflow streak. SOL was down 1% over the last 24 hours, trading at $157.

Notably, Grayscale's ETHE was the only ETH ETF to shed ETH yesterday (-$3.5 million).

#BTC #ETH #sol

#SolanaETFInflows
Solana Spot (SOL) ETFs attracted $9.7 million in net inflows on November 5th; SOL ETFs ensured that each of their first seven days marked inflows. Meanwhile, Spot Bitcoin (BTC) and Spot Ethereum (ETH) ETFs recorded net outflows.

As SOL Spot ETFs mark their first week since inception, here are some interesting insights:

BTC and ETH Spot ETFs marked their sixth straight day of net outflows. BTC ETFs marked a net outflow of ~$137 million, despite which the net assets under management (AUM) were ~$140 billion. BTC ETFs' net AUM has been hovering around $140 billion for the past few days. ETH ETFs saw a net outflow of ~$118.5 million. Meanwhile, SOL ETFs marked their seventh straight positive inflows day.

BlackRock's IBIT marked its third-biggest outflow in 2025 as it shed 3700 BTC or ~$375 million. All other major BTC ETFs bought bitcoins yesterday.

BlackRock's ETH ETF (ETHA) also marked a big ETH outflow at $146.6 million, its biggest outflow since October 13th.

Despite marking significant net outflows, BTC and ETH ETFs maintain a big purse of BTCs and ETHs. Also, Fidelity, Grayscale, and other big ETFs partially offset BlackRock's massive outflows. Therefore, the overall institutional outlook isn't purely bearish, but isn't purely bullish either.

While BTC and ETH ETFs might signal a slightly negative outlook, SOL ETFs' daily flows data don't exactly signal a positive outlook.

Grayscale's GSOL and Bitwise's (BSOL), the only two SOL ETFs as of November 6th, 2025, bought 62.6K SOLs collectively. In USD terms, that is equal to $9.7 million. However, this is the smallest SOL acquisition yet.

To sum it up, BTC, ETH, and SOL ETFs signal a cautious outlook, if not highly negative. On Wednesday, BlackRock's massive outflows were partially offset by other ETFs in BTC and ETH. Meanwhile, SOL ETFs marked their smallest SOL scoop yet.

However, the long-term outlook is bullish, at least for Solana, since more ETFs are pending approval amid the US gov shutdown.

Data source: Coinglass

#CPIWatch
JUST IN: Fed Chair Jerome Powell said that inflation remains below the 2022 highs, but remained above the Fed's long-term target of 2%.

Quantitative Tightening or QT will end as of December 1st, 2025.

Inflation expectations are elevated for the near term due to tariff-related woes.

Near term risks to inflation remain on the 'upside' and that risks to employment remain on the 'downside'. This makes the committee's discussion on a decision difficult.

The Committee had strongly differing views on inflation and unemployment, therefore, they are yet to achieve reasonable consensus on the December decision.

Powell emphasized that the committee has NOT made a decision on December.

#CPIWatch #MarketPullback
BREAKING: FOMC announces a 25 bps cut in line with market expectations.
#FEDDATA

#CPIWatch
Why are the odds that the Fed will cut its policy rate by 25 bps so high?

Polymarket shows a 98% chance that the Federal Reserve (the Fed) will announce a 25 basis points (bps) cut. According to the CME FedWatch tool, that probability is 97.8%.

In his last FOMC speech, Fed Chair Jerome Powell emphasized that the central bank was more worried about unemployment than inflation.

The latest inflation print (CPI increase of 3% against the expected rate of 3.1%), which was released a few days ago, was lower than expected, buttressing the Fed's stance.

Since the government shutdown began on October 1st, no unemployment data has been released. Unemployment data is essential for the Fed to inform its decisions.

Earlier today, market observer Ted Pillows highlighted a string of layoffs by 15 major companies, including Amazon, Microsoft, and Meta, among others. These layoffs were reported between September and October 2025.

Of the 15 companies Pillows named, 12 are headquartered in the US. However, it’s important to note that these are multinational companies, which means that the layoffs are likely not limited to the US. Essentially, these layoffs are not a substitute for national-level unemployment data. Nevertheless, this is the kind of unemployment data that is available during a government shutdown.

Powell had pointed out that the last rate cut was not reactionary, but a proactive risk management cut. Since the last meeting, apart from such layoff figures, no other alarming data about US jobs have surfaced. When the Chair announces a cut on Wednesday, he will likely maintain that it’s another risk-management action.

Screenshot of Ted's post on X, highlighting the layoffs:

BREAKING: $BTC just hit $111,302

#CPIWatch
Here’s a Bitcoin (BTC) price snapshot before the FOMC announces its decision on Wednesday:
 
As of 10:14 ET
BTC Price: $115759
 
1H: +0.7%
1D: +0.78%
1W: +5.4%
1M: +5.5%
1Y: +67.54%
 
BTC Spot ETFs (1D): 1300 BTC added
BTC Spot ETFs Volume (1D): $4.41 Billion
 
BTC Liquidations (1D): $56.41 Million
#BTC

BREAKING: $BTC DROPS BELOW $110,000!

2025 Nobel Peace Prize Winner Maria Machado Once Called Bitcoin A Lifeline For Venezuelans

María Corina Machado won the 2025 Nobel Peace Prize for fighting dictatorship, but the economic disaster she fights is just as critical.

Machado once called Bitcoin a "lifeline" (Source: Bitcoin Magazine) for Venezuelans escaping 254.4% inflation (IMF forecast) and mass poverty.
The fight for democracy is now fought with decentralization.

1/3: Venezuela's Economic Crisis: A Grim Reality

Venezuela’s economic figures are a humanitarian alert:

Poverty: Over 70% of the population lives in poverty.

Contraction: -4.0% Real GDP growth (IMF forecast). The economy is shrinking.

Exodus: Over 8 Million people have fled since 2014—one of the world's largest displacement crises.

Silence: No official unemployment data since 2018, masking the depth of joblessness.

The Bitcoin Lifeline

Why does the Nobel Laureate see Bitcoin as essential? Because a government that destroys its money forces its citizens to adopt hard money.

- Bypassing Hyperinflation: Bitcoin provides an uncensorable store of value against the ≈254% inflation that melts the Bolívar Digital.
- Remittances: The 8M diaspora sends funds home in crypto, bypassing corrupt/slow banking channels.
- Adoption: Venezuela ranks 9th globally in the Chainalysis Crypto Adoption Index (when adjusted for population), proving it's a tool of necessity, not speculation.

Machado's Legacy

Machado didn't flee her country, even while in hiding. She stayed to unite a divided opposition and fight a rigged system.

Her recognition of crypto's role is a message to the world: Economic freedom is integral to political freedom.

Decentralization is now a core weapon in the battle against authoritarianism.

#Venezuela #Bitcoin #NobelPeacePrize #MariaCorinaMachado

Image credit: Ill. Niklas Elmehed © Nobel Prize Outreach

Fed Chair Powell didn't give any hints about rate cuts at today's conference on Community Banking in the US. Meanwhile, Treasury Secretary Scott Bessent on the role of tech in the development of community banking in the US:
New financial regulation will be executed in a safe and sound manner, not in an abrupt manner. We’ll ensure that everyone understands those regulations. #PowellSpeech