Overview
- On Monday, Nov. 2, U.S. spot Bitcoin ETFs recorded about $398.6 million in net outflows with BlackRock’s IBIT alone reporting $405.3 million in redemptions, leaving the rest of the Bitcoin group slightly positive for the day.
- Spot Ether ETFs posted roughly $139.7 million in withdrawals on the same day, marking a sixth straight session of outflows with BlackRock’s ETHA responsible for about $138.3 million of the total.
- On‑chain trackers reported large token moves tied to those redemptions, including multi‑thousand BTC transfers and about 580,145 ETH of monthly outflows from ETHA, and BlackRock said its BTC transfers to Coinbase Prime reflected mechanical fund adjustments rather than proprietary selling.
- ETF mechanics explain the flows: authorized participants handle creations and redemptions and in‑kind redemptions for some Ether funds were allowed after July 2025, so investor withdrawals translate into transfers or sales of the underlying tokens.
- Because U.S. Bitcoin ETFs hold roughly $98–$100 billion while Ether ETFs hold about $13.2 billion, similar dollar outflows hit Ether funds as a much larger share of assets and could cause near‑term price pressure and liquidity strains if the streak of redemptions continues.