U.S. Bitcoin and Ethereum ETFs recorded a combined $1.65 billion in net outflows between November 2 and 6. BlackRock’s IBIT lost money every day during the week, while Fidelity’s competing Bitcoin fund managed to finish with positive inflows.
Summary
- Bitcoin ETFs lost $1.28 billion over five trading sessions, while Ethereum ETFs saw $365.2 million in withdrawals.
- BlackRock’s IBIT recorded $1.21 billion in weekly outflows, including $403 million on Friday.
- Fidelity’s FBTC attracted $93.1 million during the week despite losing $199.9 million on Thursday.
- Combined Bitcoin and Ethereum ETF outflows reached $504.2 million on Friday after a brief recovery on Wednesday.
According to Farside Investors, U.S. spot Bitcoin ETFs recorded $411.9 million in withdrawals on November 6. Ethereum ETFs lost another $93.3 million, keeping both categories in negative territory for the second straight day.
Over Thursday and Friday, investors pulled a combined $1.04 billion from the two ETF groups. Wednesday was the only positive day of the week, with Bitcoin ETFs attracting $74.6 million and Ethereum funds bringing in $53 million.
BlackRock’s IBIT Leads Bitcoin ETF Withdrawals
BlackRock’s IBIT recorded the largest Bitcoin ETF outflow on Friday, losing $403 million. Bitwise’s BITB saw $20.5 million in withdrawals, ARK 21Shares’ ARKB lost $20.1 million, and Grayscale’s GBTC recorded another $11.1 million in outflows.
Fidelity’s FBTC moved in the opposite direction, attracting $42.8 million and helping offset some of the losses across other funds. The remaining Bitcoin ETFs reported no net movement that day.
For the full week, IBIT lost $1.21 billion. Its biggest daily withdrawal came on Monday, when investors pulled out $405.3 million. Friday followed closely, while another $201.2 million left the fund on Wednesday, even as the overall Bitcoin ETF market recorded positive inflows.
Fidelity finished the week with $93.1 million in net inflows. Its $236.7 million in new investments on Wednesday was enough to cover Thursday’s $199.9 million withdrawal, along with smaller inflows on the other trading days.
Other Bitcoin funds also saw mixed results. Bitwise attracted $16.6 million during the week, while ARKB lost $19.1 million. Grayscale’s GBTC recorded $61 million in withdrawals, and its Bitcoin Mini Trust lost another $52.6 million.
Ethereum ETFs Lose $365.2 Million
Ethereum ETFs also faced heavy withdrawals during the week. BlackRock’s ETHA led Friday’s losses with $90.8 million leaving the fund. Fidelity’s FETH lost $1.7 million, while Grayscale’s Ethereum Mini Trust recorded $1.9 million in withdrawals.
BlackRock’s separate ETHB fund attracted $1.1 million, while the other tracked Ethereum funds reported no positive inflows that day.
For the full week, ETHA lost $345.9 million, while ETHB recorded $47.9 million in withdrawals. Fidelity’s FETH managed to attract $15.3 million, mainly supported by Wednesday’s $19.2 million inflow.
Ethereum ETFs started November with $139.7 million in withdrawals on Monday and another $85.3 million on Tuesday. Wednesday brought $53 million in inflows, but the recovery did not last, as investors pulled out $99.9 million on Thursday and $93.3 million on Friday.
Ethereum funds had already lost $431.4 million during October 26–30. Their total withdrawals for October reached $1.61 billion, showing continued pressure on institutional investment in the asset.
Wednesday’s Recovery Fails to Continue
Bitcoin ETF withdrawals were more than six times higher than the $202.4 million recorded during the previous week of October 26–30. Combined Bitcoin and Ethereum ETF outflows also increased from $633.8 million to around $1.65 billion.
Both ETF categories recorded four days of withdrawals and only one day of positive inflows during the latest trading week.
Ryan Kirkley, co-founder and CEO of Global Settlement Network, warned that one positive trading session should not be seen as a sign that selling pressure has ended. He said the different results between Fidelity and BlackRock showed that investors were adjusting their exposure in different ways.
Kirkley added that institutional investment decisions continue to depend on market liquidity, monetary policy, and portfolio strategies. He also pointed to unresolved U.S. regulations covering custody, payments, and settlement as factors that financial institutions are still watching.
AMINA Trader Sees Ethereum ETF Flows as an Important Signal
Andreja Cobeljic, head of derivatives trading at AMINA Bank, said renewed demand for Ethereum ETFs is one of the key signals he will watch when assessing whether institutional investment could support further gains into 2027.
He pointed directly to Ethereum ETF inflows as an important indicator of market demand.
Cobeljic also explained that ETF investments and corporate Bitcoin purchases provide a clearer picture of direct market demand than futures trading. Futures positions can involve arbitrage strategies rather than a direct bet on rising prices.
He added that low futures premiums during recent market rallies suggest that these types of trading strategies remain common.
Despite the latest withdrawals, cumulative net inflows through November 6 remained around $55.77 billion for Bitcoin ETFs and $11.95 billion for Ethereum ETFs.