Institutional investors pulled $1.65 billion from US crypto ETFs this week, with BlackRock's IBIT and ETHA funds bearing the brunt of the selling as Bitcoin trades near $75,777.
US spot Bitcoin ETFs bled roughly $1.28 billion in the week of November 2-6, up sharply from $202.4 million the prior week, with IBIT alone losing about $1.21 billion. Sustained institutional selling pressure and only one positive session for the category point to continued downside, with Bitcoin trading near $75,777 amid broad volatility.
When ETF investors pull money out, the funds reduce their Bitcoin holdings, adding selling pressure. This week's withdrawals of about $1.28 billion were much larger than the previous week's $202.4 million.
Bitcoin traded near $75,777 at the time of reporting, in a cautious and volatile market environment.
Spot Ether ETFs recorded $365.2 million of net outflows for the week, with BlackRock's ETHA alone shedding about $345.9 million, and the category had only one positive trading session. Persistent institutional selling amid broader crypto volatility weighs on Ether's near-term price.
About $365.2 million in net outflows for the week of November 2-6, with BlackRock's ETHA accounting for roughly $345.9 million of that.
IBIT saw the largest withdrawals of all Bitcoin ETFs, roughly $1.21 billion over five trading sessions with outflows every day, including $405.3 million Monday and $403 million Friday. Heavy redemption pressure reduces fund assets and signals waning institutional demand, though the ETF price still tracks Bitcoin itself.
Roughly $1.21 billion over the five trading sessions of November 2-6, with outflows on every trading day.
US spot Bitcoin and Ethereum ETFs faced a sharp increase in selling pressure, recording $1.65 billion in combined net outflows for the week of November 2-6. Bitcoin products accounted for $1.28 billion of the total, led by significant withdrawals from BlackRock's IBIT, while Ether ETFs saw $365.2 million in exits. The data reflects a cautious institutional environment amid broader market volatility.
When ETF investors pull money out, the funds must reduce their underlying Bitcoin holdings, which adds significant selling pressure to the market.
BlackRock's iShares Bitcoin Trust (IBIT) recorded approximately $1.21 billion in outflows over the five trading sessions from November 2-6.