Bitcoin and Ethereum ETFs lose $530 million in one day as $3 trillion Wall Street wipeout rattles crypto
Six funds recorded withdrawals on November 5, leaving this week's ETF demand recovery short-lived. Read the full story on CryptoSlateUnderstand the crypto stories that matter and what to watch next. Get The Catalyst in your inbox
US spot Bitcoin and Ethereum ETFs suffered $530 million in combined withdrawals Thursday as a Wall Street rout erased their post-midterm gains.
Data from Farside Investors showed that Bitcoin ETFs lost $430.23 million on Nov. 5, while their Ethereum counterparts recorded another $99.98 million in outflows.
The latest ETF withdrawals extended a broader retreat that had begun before Thursday's market turbulence.
BlackRock's iShares Bitcoin Trust (IBIT) recorded $105 million in outflows, marking its fifth consecutive trading session of withdrawals.
Over that period, investors pulled approximately $1.04 billion from the fund, including $405.3 million on Nov. 2 alone.
Across all US spot Bitcoin ETFs, cumulative net withdrawals reached approximately $1.51 billion over the five sessions since Oct. 30, despite Wednesday's brief return to positive flows.
Fidelity's FBTC suffered the biggest withdrawals on Thursday, losing $199.87 million just one day after attracting $236.7 million and leading the industry's short-lived recovery.
Grayscale's GBTC recorded another $49.9 million in outflows, while Franklin Templeton's EZBC and VanEck's HODL lost $32.92 million and $23.64 million, respectively. None of the 12 Bitcoin funds recorded positive net flows during Thursday's session.
The withdrawals left Bitcoin ETFs with $869.8 million in net outflows for November, extending the pressure that had already driven substantial redemptions in late October.