Bitcoin & Ethereum Spot ETFs See Third Week of Net Outflows
Bitcoin spot ETF outflows continued into a third straight week, with $1.22 billion redeemed in the Nov 3–7 period and a further $1.11 billion withdrawn from Nov 10–14. Major sellers included BlackRock’s IBIT ($581 m then $532 m redemptions) and Fidelity’s FBTC ($438 m), while ARK 21Shares Bitcoin ETF was the only fund to log inflows ($21.6 m then $1.68 m). Assets under management in Bitcoin spot ETFs fell from $138.08 billion to $125.34 billion, still about 6.67% of Bitcoin’s market cap, with cumulative inflows total $58.85 billion. Similarly, Ethereum spot ETFs saw $508 million of net outflows in early November, followed by $729 million in mid-Nov, led by BlackRock’s ETHA (total $718 m) and Grayscale’s ETH Trust ($135 m). Total assets dipped from $22.66 billion to $20 billion, roughly 5.42% of Ethereum’s market cap, against $13.13 billion of lifetime inflows. Traders interpret these sustained net outflows in crypto ETFs as bearish sentiment, likely to pressure liquidity and heighten price volatility.
Bearish
In the context of the cryptocurrency market, the sustained outflows from Bitcoin spot ETFs and Ethereum spot ETFs over consecutive weeks signal growing investor caution and a shift toward liquidation. In the short term, these net redemptions reduce ETF liquidity and can increase selling pressure on the underlying assets, raising the likelihood of price declines and elevated volatility. Over the longer term, if the trend persists, it may undermine confidence in crypto spot products and delay capital inflows, further weighing on Bitcoin and Ethereum market dynamics. Historical patterns show that extended ETF outflows often coincide with bearish price trends, supporting a negative outlook for crypto asset performance.