US spot Bitcoin exchange-traded funds (ETFs) recorded significant net outflows of $1.28 billion between November 2 and November 6, while spot Ethereum funds registered $365.2 million in net withdrawals during the same period. Data compiled by Farside Investors indicated that combined outflows from both asset categories totaled approximately $1.65 billion, reflecting the continued volatility and shifting investor sentiment in crypto-linked investment products.
Major outflows from BlackRock’s IBIT and ETHA
BlackRock’s iShares Bitcoin Trust (IBIT) experienced a notable net withdrawal of $1.21 billion over five days, marking its largest weekly outflow to date. The fund faced its steepest redemptions on Monday and Friday, with investors pulling $405.3 million and $403 million respectively. Withdrawals occurred on every trading day in the period, illustrating persistent selling pressure.
Wednesday briefly offered a respite, with overall Bitcoin ETF inflows totaling $74.6 million, interrupting the negative trend seen earlier in the week. However, IBIT itself still lost $201.2 million that day, despite positive momentum in the broader market. Investors showed varied behavior between funds; Fidelity’s FBTC, a rival Bitcoin ETF, attracted fresh capital on Wednesday, while several other products reported gains.
Farside Investors reported that, “On Wednesday, ARKB recorded $19.9 million in inflows, Bitwise saw $15.2 million, and Invesco’s BTCO added $4 million, sufficiently offsetting some of the withdrawals from IBIT.”
BlackRock’s ETHA, the firm’s flagship spot Ether fund, posted the largest withdrawal for the category, with a net outflow of $345.9 million during this period. Its sister product, ETHB, recorded $47.9 million in losses.
Fidelity’s FETH managed to withstand the trend, achieving net inflows of $15.3 million for the week—mainly due to a $19.2 million surge on Wednesday that balanced subsequent minor outflows. Meanwhile, Grayscale’s Ethereum Mini Trust registered a daily outflow of $1.9 million by Friday.
Mini dictionary: Farside Investors is a financial analytics firm that tracks inflows and outflows in ETF and fund markets, focusing on cryptocurrency asset data for institutional and retail investors.
ETF flows diverge sharply between funds
Despite the predominance of outflows, some Bitcoin products attracted net inflows during the volatile week. On Wednesday, ARKB—ARK 21Shares’ Bitcoin ETF—gained $19.9 million. Bitwise’s BITB and Invesco’s BTCO added $15.2 million and $4 million respectively on the same day, helping to cushion sector-wide withdrawals.
Fidelity’s FBTC closed the period with $93.1 million in net inflows, boosted by a $236.7 million influx on Wednesday. However, a large $199.9 million outflow on Thursday offset much of these gains. Bitwise ended the week with net inflows of $16.6 million, while ARBK posted outflows of $19.1 million and Grayscale’s flagship GBTC lost $61 million.
| ETF/Fund | Weekly Net Flow ($ million) |
|---|---|
| BlackRock IBIT | -1,210 |
| Fidelity FBTC | +93.1 |
| ARKB | Varied (inflow Wednesday: +19.9) |
| Bitwise BITB | +16.6 |
| Grayscale GBTC | -61 |
| BlackRock ETHA (Ether) | -345.9 |
| Fidelity FETH (Ether) | +15.3 |
| BlackRock ETHB (Ether) | -47.9 |
Total AUM and cumulative flows since launch
By the end of the period, Bitcoin ETFs in the US had generated cumulative inflows of $55.77 billion since their inception. In contrast, spot Ether funds attracted approximately $11.95 billion during the same timeframe, reflecting the greater investor focus on Bitcoin as the dominant institutional crypto asset.
Weekly Bitcoin ETF outflows of $202.4 million in the prior October 26–30 period were dwarfed by the recent losses, as the figure rose sixfold week-over-week. While Ether fund outflows fell to $365.2 million from $431.4 million in the previous week, negative momentum remained present across the board.
Total spot ETF outflows on Thursday and Friday alone approached $842 million for Bitcoin, highlighting investor hesitancy despite brief buying activity midweek.
Ether products started the week with heavy outflows—$139.7 million on Monday and $85.3 million on Tuesday—followed by a modest $53 million inflow Wednesday, and renewed outflows of $99.9 million Thursday and $93.3 million Friday. No other US-based Ether fund registered net inflows strong enough to reverse the trend.
