Flows into U.S. spot crypto ETFs have been under pressure over the past couple of days. On November 2, U.S. spot Bitcoin ETFs saw net outflows of $398.6 million, while spot Ethereum ETFs saw outflows of $140 million. One day alone doesn’t tell the whole story: on the previous reporting day, Bitcoin ETFs had already seen $643.3 million in outflows, suggesting this is more than an isolated fluctuation.
There’s another detail worth noting on the Bitcoin side: most of the outflows this time came from BlackRock’s IBIT, which saw $405.3 million in redemptions—more than the net outflows for the entire Bitcoin ETF category. Put simply, excluding IBIT, the other Bitcoin ETFs collectively actually saw slightly positive flows that day. This is drawing more attention to whether the current pressure reflects a broader retreat from the sector or a reallocation of funds concentrated in a single product.
Ethereum looks weaker still. The $140 million in outflows marked the sixth consecutive day of net redemptions. October also saw the largest monthly outflow on record for these ETFs, at $1.61 billion. In the short term, there’s still no clear sign that ETF flows have stabilized. Going forward, in addition to prices, it’s worth watching whether the pace of redemptions slows. Also, if you want to keep up with this kind of news, sentiment shifts, and market opportunities more quickly, you could try mlion.ai.
It does a solid job of aggregating AI-related news and tracking sentiment, which can save you a lot of time monitoring the markets.
There’s another detail worth noting on the Bitcoin side: most of the outflows this time came from BlackRock’s IBIT, which saw $405.3 million in redemptions—more than the net outflows for the entire Bitcoin ETF category. Put simply, excluding IBIT, the other Bitcoin ETFs collectively actually saw slightly positive flows that day. This is drawing more attention to whether the current pressure reflects a broader retreat from the sector or a reallocation of funds concentrated in a single product.
Ethereum looks weaker still. The $140 million in outflows marked the sixth consecutive day of net redemptions. October also saw the largest monthly outflow on record for these ETFs, at $1.61 billion. In the short term, there’s still no clear sign that ETF flows have stabilized. Going forward, in addition to prices, it’s worth watching whether the pace of redemptions slows. Also, if you want to keep up with this kind of news, sentiment shifts, and market opportunities more quickly, you could try mlion.ai.
It does a solid job of aggregating AI-related news and tracking sentiment, which can save you a lot of time monitoring the markets.