On November 2, U.S. spot Bitcoin exchange‑traded funds (ETFs) experienced a net outflow of approximately $398.6 million. The majority of this withdrawal came from BlackRock’s iShares Bitcoin Trust (ticker IBIT), which alone saw redemptions of $405.3 million, exceeding the net outflow for the entire Bitcoin ETF category.
Because IBIT’s outflow surpassed the category total, the remaining Bitcoin ETFs posted a modest net inflow on the same day. The November 2 movement followed a larger single‑day exit of $643.3 million recorded on October 31 and November 1.
Ether ETFs continue to see withdrawals
Spot Ether ETFs recorded a net outflow of $140 million on November 2, extending a streak of six consecutive days of redemptions. October had already seen the largest monthly outflow on record for Ether ETFs, totaling $1.61 billion after three months of inflows.
Scale of the outflows
At the time, U.S. spot Bitcoin ETFs held roughly $98 billion to $100 billion in assets, making the $398.6 million outflow less than 0.5 % of the total pool. Spot Ether ETFs held about $13.2 billion, so the $140 million withdrawal represented just over 1 % of that category.
Potential drivers
Research notes a recent security incident at Binance as a possible factor influencing investor behavior, though multiple factors can affect ETF flows.
Implications for investors
Net redemptions may require ETF issuers to reduce underlying holdings, potentially adding selling pressure to the spot markets. For Bitcoin ETFs, the concentration of flows in IBIT suggests its daily activity will continue to dominate category totals. For Ether ETFs, the ongoing outflow streak will be closely watched to determine whether the recent corrections represent a temporary adjustment or a longer‑term trend.
