Bitcoin and Ether ETFs Record $530 Million in Outflows as Wall Street Sell-Off Hits Crypto

On the Ethereum side, BlackRock accounted for nearly all of the day's withdrawals. Its flagship ETHA fund lost $75.2 million and its staked Ethereum product, ETHB, lost $22 million. Fidelity's FETH shed $2.24 million. Ethereum ETFs are now down roughly $272 million for November, despite a $53 million inflow on Wednesday.

Sources differ slightly on the precision of the daily totals. The fund-level figures used here are two-decimal values supplied with the underlying dataset, while Farside's published summary uses one-decimal rounding. The difference is immaterial to the overall picture but matters if the numbers are used for reconciliation.

Market Backdrop

The flows coincided with a sharp move in prices. Bitcoin fell 6.03% over 24 hours to $75,581.52, giving back a rebound above $80,000 that followed the Democratic Party's gains in the US midterm elections. One outlet reported an intraday low near $75,200, the lowest level since mid-September. Ethereum fell to $2,237 at press time after trading above $2,400 during the recovery, and another report put its low near $2,206, a single-day decline of more than 7%.

Derivatives markets saw heavy deleveraging. One report cited about $1.2 billion in total crypto liquidations over 24 hours, of which roughly $1.1 billion were long positions. Bitcoin open interest fell 1.78% over the same period. The liquidation figure comes from a single publisher, and the aggregate totals reported across venues should be treated as indicative rather than definitive.

Equity Sell-Off and Political Context

The crypto declines came alongside a broader US equity rout. President Donald Trump described the session as one of the stock market's "worst days in history." According to The Kobeissi Letter, the Nasdaq 100 posted its steepest daily decline since the 2020 pandemic, and the S&P 500 shed roughly $3 trillion in market value. Market participants have linked the pressure partly to concerns that Democratic control of Congress could bring tighter rules on artificial intelligence infrastructure, though that attribution is an interpretation offered in the reporting rather than a confirmed cause.

Regulatory uncertainty around crypto is also being cited by traders as a factor. The shift in congressional control raises questions about the pace and direction of future digital asset legislation, but no specific bill or enforcement action tied to the sell-off has been identified in the source reporting.

What to Watch

The key near-term indicator is whether ETF flows turn positive again after five straight sessions of net redemptions in Bitcoin funds. Daily flow data from Farside and fund issuers' disclosures will show whether the Wednesday inflow was an exception or the start of a reversal. Derivatives liquidation levels and open interest will indicate whether leveraged positioning is still unwinding.

Why It Matters

For Traders

Five straight sessions of Bitcoin ETF outflows and heavy long liquidations suggest near-term momentum is weak, so watch whether daily flows turn positive before reading the bounce as durable.

For Investors

Repeated ETF redemptions alongside a rising equity sell-off point to crypto being traded as a risk asset tied to US policy and macro conditions, not a standalone hedge.

For Builders

Sustained institutional outflows and a shifting congressional agenda raise the importance of designing products and integrations that can withstand regulatory and liquidity swings.