TLDR
- US Bitcoin ETFs recorded $398.6 million in net outflows on November 2.
- BlackRock’s IBIT led withdrawals with $405.3 million, while Fidelity’s FBTC gained $6.7 million.
- Bitcoin ETFs lost another $643.2 million on October 30, ending four consecutive days of inflows.
- Spot Ether ETFs recorded $139.7 million in outflows, marking their sixth consecutive trading session of withdrawals.
- BlackRock’s ETHA accounted for $138.3 million of the Ether ETF withdrawals.
- Ether ETFs recorded their largest monthly outflow in October, totaling $1.61 billion.
US Bitcoin ETFs recorded $398.6 million in net outflows on November 2, while US spot Ether funds lost $139.7 million, according to Farside Investors.
The combined $538.3 million withdrawal came as cryptocurrency markets faced renewed selling during Monday’s session and investors reduced exposure through exchange-traded funds.
US Bitcoin ETFs See BlackRock Lead Withdrawals
BlackRock’s iShares Bitcoin Trust (IBIT) reported $405.3 million in outflows. The amount exceeded the total net withdrawals across all US Bitcoin ETFs that day.
Fidelity’s Wise Origin Bitcoin Fund (FBTC) attracted $6.7 million. The other ten tracked Bitcoin funds reported no net flows, leaving BlackRock responsible for the group’s decline.
The latest figures followed $643.2 million in Bitcoin ETF withdrawals on October 30. Bitcoin ETF net outflows for October totaled about $515 million, data also showed. That session ended four consecutive days of inflows. Bitcoin also rebounded toward $79,000 on November 2, before prices weakened again.
Ether ETFs Extend Six-Day Withdrawal Streak
US spot Ether ETFs posted their sixth straight trading day of outflows on Monday. The run began on October 26 and continued through the start of November.
BlackRock’s iShares Ethereum Trust (ETHA) accounted for $138.3 million in redemptions. Another BlackRock fund, ETHB, lost $4.6 million, while Morgan Stanley’s MSSE added $3.2 million.
Ether funds lost a record $1.61 billion during October after three months of inflows. Meanwhile, Bitcoin fell below $77,000 on November 3, as stock market losses added to pressure on cryptocurrency prices.
Bitcoin and Ether Funds Retain Billions
US Bitcoin ETFs held an estimated $98 billion to $100 billion in assets around the reporting period. Monday’s net withdrawals represented less than 0.5% of that amount.
Spot Ether ETFs held approximately $13.2 billion. Their $139.7 million daily outflow equaled slightly more than 1% of assets, a larger share than Bitcoin funds recorded.
ETF outflows measure the difference between new investor money and withdrawals. They do not establish which investors sold or explain their decisions.
Binance Hack Precedes Latest ETF Withdrawals
The withdrawals followed a reported $6.3 billion theft from Binance on October 29. The exchange later reported billions in customer withdrawals after it restarted some services.
No direct evidence connects the security breach to Monday’s ETF redemptions. Fund flow data also cannot confirm whether investors plan further withdrawals or will return with new purchases.
