TLDR
- U.S. spot Bitcoin ETFs recorded $299.8 million in net outflows on November 11.
- Spot Ethereum ETFs registered $144.8 million in withdrawals during the same trading session.
- BlackRock’s IBIT led Bitcoin ETF withdrawals with $269.7 million in net outflows.
- BlackRock’s ETHA recorded $129.8 million in withdrawals, leading Ethereum ETF outflows.
- Morgan Stanley’s MSBT attracted $9 million despite broader Bitcoin ETF redemptions.
U.S. spot Bitcoin and Ether exchange-traded funds recorded $444.6 million in combined net withdrawals on November 11. Farside Investors tracked $299.8 million leaving Bitcoin funds and $144.8 million leaving Ether products.
Source: X
Two BlackRock funds accounted for $399.5 million of the combined total, concentrating the day’s redemptions. Both ETF groups posted their fifth consecutive trading session of net outflows.
BlackRock’s Funds Account for Most Withdrawals
BlackRock’s iShares Bitcoin Trust (IBIT) lost $269.7 million during Wednesday’s session, Farside’s Bitcoin flow table shows. That represented roughly 90% of net Bitcoin ETF withdrawals, despite inflows elsewhere.
Grayscale Bitcoin Trust (GBTC) posted another $39.1 million in net outflows. Morgan Stanley’s Bitcoin Trust (MSBT) attracted $9 million, partly offsetting the redemptions. The remaining tracked Bitcoin funds posted zero net flows for the session.
The November 11 figure followed $95 million in Bitcoin ETF outflows on November 10. Across five trading sessions beginning November 5, Bitcoin funds lost $1.4379 billion.
IBIT alone posted $1.0691 billion in outflows during that stretch. By contrast, MSBT accumulated $51.1 million in inflows over the same five sessions. Its inflows came on November 9, November 10, and November 11, according to Farside.
Ether ETF Withdrawals Extend Losing Streak
BlackRock’s iShares Ethereum Trust (ETHA) recorded $129.8 million in withdrawals on November 11. Farside’s Ether table also showed a $5.3 million outflow from BlackRock’s ETHB product.
Bitwise’s ETHW lost $4.8 million, while Fidelity’s FETH shed $4.1 million. Franklin Templeton’s EZET recorded a further $0.8 million in outflows. No tracked Ether fund reported a positive net flow that day.
The Ether group had lost just $1.3 million on November 10. Its latest result lifted five-session net withdrawals to $523.9 million.
Together, Bitcoin and Ether ETFs lost $1.9618 billion over those five sessions. Both categories last posted positive daily flows on November 4. That day’s totals were $74.6 million for Bitcoin and $53 million for Ether.
What ETF Redemption Figures Actually Show
ETF flows reflect net creations and redemptions, rather than BlackRock’s proprietary trading positions. The SEC authorized in-kind creations and redemptions for crypto exchange-traded products in July 2025.
Consequently, these numbers cannot identify which institutions sold or establish direct spot-market transactions. Past reporting also distinguished Bitcoin-to-ETF conversions from fresh purchases, a separate mechanism affecting custody and exposure.
The November 11 redemptions left lifetime net Bitcoin ETF inflows at approximately $55.17 billion. Ether ETF lifetime net inflows totaled approximately $11.62 billion, Farside’s latest tallies show.
