Almost $1.5 Billion Withdrawn From Bitcoin and Ethereum ETFs in a Single Week

The spot Bitcoin ETFs began November with significant outflows, with losses intensifying over the past week as more than $1 billion was withdrawn. Ethereum ETFs faced a similar pattern, though there was a small positive sign on Friday.

BTC ETFs Bleed $2.3B in 2 Weeks

The outflows began during the first full week of November when investors pulled $1.28 billion from Bitcoin ETFs. The trend continued with $201 million in net outflows on November 9, followed by $95 million on Tuesday, $300 million on Wednesday, $284 million on Thursday, and $185.45 million on Friday.

This resulted in $1.07 billion in net withdrawals in a single week and $2.35 billion over two weeks. Total cumulative net inflows for Bitcoin ETFs dropped from $57 billion on October 30 to $54.63 billion on November 13, with only one positive day in 10 business days during November.

ETH ETFs Still in Red, but...

Ethereum ETFs have experienced outflows since late September/early October, with no green weeks since then. The past five business days saw $184.51 million leaving on Monday, followed by modest outflows on Tuesday, then $144.81 million on Wednesday and $70.57 million on Thursday.

A small glimmer of hope emerged on Friday with $2.36 million in net inflows, though this wasn't enough to stop the seven-week negative streak. Total cumulative net inflows for Ethereum ETFs decreased from $13.94 billion at the end of September to $11.52 billion by November 13, as ETH's price fell to a three-month low of just over $1,700.