• US spot crypto ETFs recorded $1.48 billion in net outflows between November 4 and 10.

• Bitcoin funds shed $1.06 billion and Ethereum funds $326 million in the same window.

• Ten major US stock ETFs drew $37.5 billion, led by Vanguard's VOO with $16.9 billion.

Crypto ETFs Shed $1.48 Billion in Five Days

US spot crypto ETFs lost $1.48 billion in net outflows over the five trading days from November 4 to November 10, pulling a steady source of demand out of the market while prices slid. The redemptions ran through every spot product group: funds tracking six major digital assets all posted net outflows in the window. Bitcoin (BTC) funds accounted for $1.06 billion of the money leaving, Ethereum (ETH) funds for $326 million, and the four smaller groups covering Solana (SOL), XRP, Hyperliquid (HYPE) and Zcash (ZEC) lost a combined $89.4 million. Under the creation and redemption model, a redemption wave forces authorized participants to unwind underlying holdings, so sustained outflows feed sell pressure straight into the tape. The buying was thin in the stretch: Bitcoin and Ethereum funds took in cash on one day only, November 4, during the post-midterm rally. The streak then extended past the window itself, as BlackRock's flagship Bitcoin fund stretched its run of outflows to a fifth straight day on Wednesday, November 11. Solana funds have not recorded a single inflow day since October 21. The 2026 ledger splits the asset class in two. Bitcoin and Ethereum ETFs are down a combined $2.25 billion year to date through November 11, while the four altcoin groups remain $1.75 billion positive, although two of them only launched this year. Daily flow data is the gauge that matters here, because it shows whether new capital is arriving or only old capital is leaving. A week of redemptions at this scale removes a persistent bid at precisely the moment the underlying assets needed one.

Wall Street Put $37.5 Billion Into Stock ETFs

The same five days that crypto funds bled were the five days Wall Street went dip shopping. Ten major US stock ETFs pulled in $37.5 billion between November 4 and 10, led by Vanguard's S&P 500 fund (VOO) with $16.9 billion and Invesco's Nasdaq 100 fund (QQQ) with $5.3 billion. Even leveraged vehicles caught the bid: the triple-leveraged semiconductor fund SOXL absorbed $2.1 billion after the technology selloff erased roughly $3 trillion of US equity value on Thursday, November 5, the S&P 500's worst session since April 2025. Equity buyers came back once that shock passed; crypto fund holders kept redeeming straight through the rebound. The contrast in behavior is stark: within equities, buyers added risk on the dip and leaned into tech and semiconductors, while within crypto, holders cut exposure in the flagship products first. The price tape explains the split. Bitcoin had fallen 9.93% over seven days to $68,439 when the flows were compiled, and it now trades near $68,700 after a further 24-hour slide. Ethereum dropped 14.26% to $1,924.99 over the week. XRP lost 15.77% to $1.02, and Solana gave up 12.08% to $78.99. Zcash posted the steepest weekly fall of the six, sliding 28.56% to $933.94. Across the 24 hours captured in that reading, the total crypto market cap fell 8.67% to $2.30 trillion. The declines line up day for day with the redemption wave, which is what happens when fund redemptions mechanically add coins to the market. Whether the smaller altcoin vehicles keep their positive 2026 balances through a falling tape is the next data point to watch.

Flow data on five days of US ETF fund flows ended November 10

Bitcoin's $67,000 Line and the Fed

COINOTAG's own reading: the ETF complex stopped being the marginal buyer exactly when the macro backdrop hardened. Our aggregate data puts the COINOTAG-tracked market cap near $2.01 trillion, with Bitcoin holding a 68.6% share and the Fear & Greed Index at 20, deep in extreme fear. Traders now fully price a December Federal Reserve rate hike after hotter October inflation data, which raises the bar for risk assets. Bitcoin sits below its 200-day moving average, and $67,000 is the next support to watch, about $1,700 under the current print near $68,700. Whether that level holds decides whether the drawdown deepens into something closer to a bear market. Flow disclosures say nothing about whether whale wallets are absorbing the coins funds unload; what is visible is that fund holders show little willingness to HODL through the drawdown, and the clearest reversal signal remains a return to daily ETF inflows.