U.S. spot cryptocurrency ETFs continue to record outflows. According to data for November 11, total outflows from $BTC , $ETH , Zcash, and $SOL ETFs amounted to about $465 million in a single day.
The largest losses were in:
- Bitcoin ETF: about $300 million;
- Ethereum ETF: about $145 million;
- Zcash ETF: about $15 million;
- Solana ETF: about $6 million.
The dynamics of Bitcoin ETFs are particularly telling. As the CryptoETF.today chart shows, the funds recorded net capital outflows for five consecutive trading sessions—from November 5 to 11. The largest daily outflows exceeded $400 million.
BlackRock’s IBIT lost about $269.7 million.
Grayscale’s GBTC lost $39.1 million.
Morgan Stanley’s MSBT, on the other hand, saw a net inflow of $9 million.
In other words, even the market’s largest player—BlackRock—experienced a significant capital outflow.
At the same time, Bitcoin’s price fell from approximately $80,000 to $74,000 during this period.
This points to worsening investor sentiment and weakening institutional demand. However, it is too early to speak of a definitive loss of interest in the crypto market: cumulative net inflows into U.S. spot Bitcoin ETFs since their launch in 2024 remain positive, at about $55 billion.
The key question now is: will we see capital inflows recover, or will institutional investors continue to reduce their exposure to cryptocurrencies?
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