The full numbers for U.S. spot BTC ETFs on Friday, November 6, are out (based on publicly verifiable data, not official figures): total net outflows were about $411.9 million. Early yesterday morning, only partial figures were available, showing total outflows of about $51.7 million—and IBIT and FBTC were still missing. Once the numbers were reconciled, IBIT alone had seen about $403 million flow out, while FBTC actually had about $42.8 million flow in. The headline looked only slightly negative, but a closer look shows one fund taking a real hit.
The full total for spot ETH ETFs on the same day was about −$93.3 million (early yesterday morning, only about −$1.9 million had been reported); broken down, ETHA led the outflows with about −$90.8 million.
Add in the full figure for November 5, about −$430.2 million: that makes two straight days of outflows in the $400-million range. Based on publicly available cumulative figures so far this November, spot BTC ETFs have seen about $1.28 billion in net outflows, and ETH ETFs about $365 million.
For comparison, BTC is currently around $75,800 (about −0.2% over 24 hours, with a high near $76,200 and a low near $75,600), while ETH is around $2,236. Prices have steadied a little over the weekend, but funds have been flowing out in large amounts for two days straight—the price action and fund flows are moving in opposite directions. The full figures are much more significant than yesterday morning’s mildly negative number.
I cast a Water-Fire Already Fulfilling hexagram at the Chen hour: Kan above, Li below, with the third line changing. In plain language, Already Fulfilling means “it looks like we’ve crossed the river”; a changing third line means there’s still a cost to pay. Yesterday morning’s small outflow made it look like the matter was settled, but reconciling the full figures showed it’s nowhere near over. I’m more inclined to watch for two things first: whether there are consecutive net inflows after the market opens next week—don’t rush to assume two days of heavy outflows mean the selling is done—and whether BTC can hold above $75,000 and muster the strength to recover toward $78,000. Getting the full figures ≠ a confirmed change in fund-flow direction.
What are you watching more closely: consecutive net inflows from here, or continued large outflows? Share your thoughts in the comments.
Follow me for updates.
$BTC $ETH
Personal opinion, not investment advice
The full total for spot ETH ETFs on the same day was about −$93.3 million (early yesterday morning, only about −$1.9 million had been reported); broken down, ETHA led the outflows with about −$90.8 million.
Add in the full figure for November 5, about −$430.2 million: that makes two straight days of outflows in the $400-million range. Based on publicly available cumulative figures so far this November, spot BTC ETFs have seen about $1.28 billion in net outflows, and ETH ETFs about $365 million.
For comparison, BTC is currently around $75,800 (about −0.2% over 24 hours, with a high near $76,200 and a low near $75,600), while ETH is around $2,236. Prices have steadied a little over the weekend, but funds have been flowing out in large amounts for two days straight—the price action and fund flows are moving in opposite directions. The full figures are much more significant than yesterday morning’s mildly negative number.
I cast a Water-Fire Already Fulfilling hexagram at the Chen hour: Kan above, Li below, with the third line changing. In plain language, Already Fulfilling means “it looks like we’ve crossed the river”; a changing third line means there’s still a cost to pay. Yesterday morning’s small outflow made it look like the matter was settled, but reconciling the full figures showed it’s nowhere near over. I’m more inclined to watch for two things first: whether there are consecutive net inflows after the market opens next week—don’t rush to assume two days of heavy outflows mean the selling is done—and whether BTC can hold above $75,000 and muster the strength to recover toward $78,000. Getting the full figures ≠ a confirmed change in fund-flow direction.
What are you watching more closely: consecutive net inflows from here, or continued large outflows? Share your thoughts in the comments.
Follow me for updates.
$BTC $ETH
Personal opinion, not investment advice
