Spot Bitcoin ETFs experienced a sustained wave of outflows between October 30 and November 3, recording approximately $1.16 billion in cumulative net outflows over just three trading sessions, according to Farside Investors data.
On October 30, the ETFs recorded their largest single-day outflow of the period at $643.2 million. The negative momentum continued on November 2 with another $398.6 million in net outflows, before easing on November 3 when total withdrawals declined to $115.6 million.
BlackRock’s IBIT alone accounted for $734 million in outflows during these three days, making it the biggest contributor to the negative trend.
Ethereum ETFs face persistent outflows
Spot Ethereum ETFs continued to experience capital outflows for seven consecutive days from October 26 to November 3, recording approximately $656.4 million in cumulative net outflows.
Bloomberg analyst James Seyffart commented on the trend, stating that things were looking pretty good into the end of September but a chunk of that reversed course in October. He further noted that the average cost basis of ETF holdings stood at $3,182, compared to ETH’s market price of approximately $2,341, leaving investors with aggregate unrealized losses of nearly $3.47 billion.
Altcoin ETF flows mixed
On the altcoin front, XRP ETFs witnessed a $529.51K net outflow on November 2, while Binance (BNB) ETFs recorded net outflows of $271.01K on November 3. Hyperliquid (HYPE) spot ETFs stood out with positive momentum, recording $605.08K in net inflows on the same day, following substantial outflows of $2.86 million a day earlier. In contrast, Solana (SOL) spot ETFs recorded zero flows on both days.
Macro backdrop adds pressure
The outflows occurred amid a tough macroeconomic environment. The U.S. Federal Reserve’s October decision to maintain interest rates at 3.75%–4.00% ignited concerns about persistent inflation. Meanwhile, the November 3 U.S. midterm elections added to market caution, and a modest recovery in the U.S. dollar further pressured dollar-denominated assets.
Additionally, a Binance security breach triggered fresh anxiety across the cryptocurrency market, potentially accelerating institutional withdrawals.
Compared to Bitcoin ETFs, spot Ethereum ETFs were in a much worse spot. Yet, the 24-hour price hike of tokens suggests that investors are gearing up for momentum.
