Crypto ETFs see 6,693 BTC and 93,632 ETH outflows
Crypto ETFs recorded consecutive net outflows over two reporting days. On October 31, Bitcoin ETFs saw 4,970 BTC (US$544 M) withdrawn and on November 4 another 1,723 BTC (US$180 M), totalling 6,693 BTC. BlackRock’s iShares Bitcoin ETF led redemptions with 2,724 BTC and 1,748 BTC, cutting assets from 802,811 BTC to 799,701 BTC. Ethereum ETFs experienced similar pressure: 54,799 ETH (US$210 M) out on October 31 and 38,833 ETH (US$138 M) on November 4, totalling 93,632 ETH. BlackRock’s iShares Ethereum ETF saw 31,754 ETH and 22,681 ETH redeemed, reducing holdings from 4,002,725 ETH to 3,970,064 ETH. These crypto ETF outflows signal profit-taking, portfolio rebalancing and cautious institutional demand amid market volatility.
Bearish
The substantial net outflows from Bitcoin and Ethereum ETFs signal profit-taking and portfolio rebalancing by institutional investors. This increased selling pressure can drive short-term price declines for both assets. However, as withdrawals may reflect tactical repositioning amid volatility rather than fundamental weakness, long-term impact could be limited if institutional demand resumes.