Bitcoin ETFs Lose $399M as 2-Day Outflows Exceed $1.04B

November Begins with Institutional Risk Reduction

Institutional investors opened the month of November by taking a cautious step back from digital asset products.

Spot Bitcoin exchange-traded funds (ETFs) in the United States recorded a sharp $398.62 million in net outflows on Monday, November 2. This extended the heavy selling trend that marked the end of October.

When combined with Friday's substantial $643.33 million exit, institutional products have seen over $1.04 billion pulled from Bitcoin funds in just two trading sessions.

During this period, Bitcoin traded around $77,274 (down 0.63%), while EthereumETH-0.13% traded near $2,284 (down 0.02%). Investors should note that short-term price fluctuations are normal in digital asset markets, and past performance of digital assets is not an indicator of future returns. Market activity can be tracked live at bitkub.com/th/market/BTC.

Breaking Down the $1.04 Billion Bitcoin Outflow

Looking into the individual fund movements gives us a clearer picture of where the selling pressure came from.

BlackRock’s iShares Bitcoin Trust (IBIT) accounted for almost the entire exit on Monday, suffering $405.30 million in net withdrawals.

On the other side of the ledger, Fidelity’s Wise Origin Bitcoin Fund (FBTC) moved slightly against the tide, pulling in a modest $6.68 million inflow.

Total trading volume across all Bitcoin ETFs fell sharply to $1.99 billion on Monday, down from Friday’s intense $6.35 billion session. Total net assets settled at $98.12 billion.

This drop in volume indicates that Monday's activity was less about market panic and more about a quiet, steady unwinding of institutional exposure.

BlackRock’s IBIT Shifts from Engine to Exit

The concentration of selling in BlackRock's fund is worth keeping an eye on.

Throughout October, IBIT served as the single primary engine driving Bitcoin ETF growth. It even managed to finish last week with positive net flows despite Friday's broader market selloff.

Experiencing heavy back-to-back withdrawals marks a notable shift for the market's largest Bitcoin product. Recent Bitcoin price rebounds have often depended on consistent institutional inflows into IBIT.

While Fidelity's small positive inflow provided a minor cushion, Monday's session lacked the widespread buying that supported stronger trading days in previous weeks.

Ether ETFs Extend Redemption Streak to Six Days

Ethereum products continue to face headwinds of their own.

Ether ETFs lost $139.80 million on Monday, marking their sixth consecutive day of net redemptions. You can explore current Ethereum market data at bitkub.com/th/market/ETH.

BlackRock’s ETHA led the Ether outflows with $138.31 million leaving the fund, while ETHB shed another $4.63 million.

A small bright spot emerged at Morgan Stanley’s MSSE, which attracted $3.15 million in net new capital.

Trading activity for Ether ETFs totaled $577.77 million, leaving total net assets at $13.18 billion.

Ether entered November on the heels of five straight weeks of net withdrawals. While Bitcoin has shown an ability to bounce back sharply between pullbacks, Ether institutional demand has remained consistently subdued.

Altcoin ETFs: Quiet Activity Across Zcash, HYPE, and XRPXRP+1.76%

Smaller market-cap crypto funds also reflected a general lack of risk appetite among institutional players.

Zcash (ZCSH) Outflows

Grayscale’s Zcash fund (ZCSH) lost $3.63 million on Monday. This follows Friday’s $4.57 million withdrawal, giving the fund two back-to-back negative days after its previous eight-day streak of positive inflows.

HYPE and XRP Products

HYPE ETFs shed $2.86 million, split almost evenly between 21Shares’ THYP and Bitwise’s BHYP.

XRP funds saw a minor net outflow of $529,510 through Canary’s XRPC product. Live prices for XRP can be tracked at bitkub.com/th/market/XRP.

SolanaSOL-1.20% and NEAR Hold Flat

Both Solana (SOL) and NEAR ETFs posted zero net flows for the day. Following periods of steady redemptions throughout October, this pause indicates investors are standing on the sidelines waiting for clearer market direction.

Metaplanet Executes $160M Stock Buyback to Boost Bitcoin Strategy

While ETF investors were pulling capital, corporate Bitcoin holder Metaplanet took a different approach to strengthen its balance sheet.

Metaplanet repurchased 96.4 million shares over a two-week period, spending approximately $160 million.

By buying back its own stock, the company aims to increase the amount of Bitcoin backing each individual share, reinforcing its corporate treasury commitment.

Key Takeaways for Crypto Investors

ETF flows offer a clear window into how institutional investors are managing risk. Here is what to keep in mind:

• Two-day Bitcoin ETF outflows surpassed $1.04 billion, led primarily by redemptions in BlackRock's IBIT fund.
• Ether ETFs extended their losing streak to six sessions, continuing five weeks of slow institutional demand.
• Altcoin funds saw minor redemptions or flat activity, highlighting a cautious overall environment.
• Corporate treasury buyers remain active, with companies like Metaplanet purchasing equity to increase per-share BTCBTC-0.55% exposure.

Institutional appetite moves in natural cycles. Periods of outflow often allow markets to consolidate before the next market catalyst takes shape.

Remember that cryptocurrency assets involve price volatility and market risk. Past performance of digital assets or financial products is not a guarantee of future performance. Investors should always analyze their personal risk tolerance before making investment decisions.