Spot Bitcoin and Ether ETFs See Continued Outflows as BlackRock's IBIT Leads Redemptions
US spot Bitcoin ETFs recorded net outflows of about $399 million on November 2, with BlackRock's IBIT accounting for more than the full category total, while spot Ether ETFs lost $140 million for a sixth straight day of redemptions. Reports differ on the aggregate outflow figure, with one source citing $609 million and another citing $643 million over a separate period.
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Bitcoin ETFs Post Net Outflows Led by BlackRock
US spot Bitcoin ETFs shed a net $398.6 million on November 2, according to Crypto Briefing, with the category total rounded to roughly $399 million in its reporting. BlackRock's iShares Bitcoin Trust, ticker IBIT, recorded redemptions of $405.3 million on the same day, a figure larger than the category's net result. That arithmetic implies the other Bitcoin ETFs were collectively slightly positive on the day.
The November 2 figure followed a larger single-day exit. Crypto Briefing reported outflows of $643.3 million across the October 31 and November 1 sessions. A separate beginner-focused analysis from 99Bitcoins put the combined outflow figure at $609 million, a number that does not match Crypto Briefing's $643.3 million. The two sources do not appear to define the measurement window identically, and neither describes its methodology in enough detail to reconcile the gap.
Ether ETFs Extend a Redemption Streak
Spot Ether ETFs lost $140 million on November 2, the sixth consecutive day of net redemptions, according to Crypto Briefing. Ether funds held roughly $13.2 billion in assets at the time, which puts the daily exit at a little over 1% of that pool. That is proportionally heavier than the Bitcoin outflow, which represented less than half a percent of the roughly $98 to $100 billion Bitcoin ETF complex.
The streak follows a weak October. Crypto Briefing reports that Ether ETFs recorded their largest monthly outflow on record that month, totaling $1.61 billion. That reversal came after a three-month run of inflows, a shift that 99Bitcoins also highlighted in its framing of the month as a turning point for retail participants.
Possible Drivers and Open Questions
Crypto Briefing points to a recent security incident at Binance as a possible influence on investor behavior. It presents that link as suggested rather than established, and ETF flows can respond to many factors at once. The 99Bitcoins piece does not attribute the outflows to a specific cause.
For readers tracking the market, the key variables are concentration and persistence. Because IBIT accounted for more than the full Bitcoin net outflow on November 2, daily category totals are likely to track that single fund closely. For Ether, the open question is whether the streak continues beyond six days. A return to inflows would suggest October was a sharp correction after a strong summer, while further redemptions would extend a trend that began with a record monthly outflow. Neither source provides data beyond November 2, so the direction of flows after that date remains unconfirmed.
Why It Matters
For Traders
Concentrated redemptions in IBIT and a six-day Ether outflow streak mean daily flow prints may remain volatile in the near term.
For Investors
Record October Ether outflows after a three-month inflow run raise questions about whether institutional demand has structurally shifted or only paused.
For Builders
Sustained ETF redemptions can add spot selling pressure through issuer rebalancing, which matters for protocols that rely on ETF-linked liquidity or collateral assumptions.
This article is for information only and is not financial advice. Read the full disclaimer.
