US Bitcoin ETFs see $399M in outflows, Ether funds lose $140M

BlackRock's IBIT drove the Bitcoin exits on November 2, while Ether funds extended their redemption streak to six straight days US spot Bitcoin ETFs shed roughly $399 million on November 2, and spot Ether ETFs lost another $140 million on the same day. BlackRock carried most of the weight The more precise figure for Bitcoin funds was a net outflow of $398.6 million. Nearly all of it traced back to a single product. BlackRock’s iShares Bitcoin Trust, ticker IBIT, recorded redemptions of $405.3 million. That one fund’s outflow was larger than the entire category’s net figure. A quick bit of arithmetic shows what that means. If IBIT lost more than the group as a whole, the remaining Bitcoin ETFs were collectively slightly positive on the day. November 2 was also not an isolated event. It followed a larger single-day exit of $643.3 million, reported for October 31 and November 1. Ether funds keep bleeding The Ether side of the market has a longer story to tell. The $140 million outflow on November 2 marked the sixth consecutive day of net redemptions for spot Ether ETFs. The streak comes on the heels of a rough October. Ether ETFs posted their largest monthly outflow on record that mon...