US spot Bitcoin exchange-traded funds recorded $398.6 million in net outflows on Monday, November 2, while US spot Ether funds lost $139.7 million over the same session, according to data from Farside Investors. The combined $538.3 million withdrawal came as cryptocurrency markets faced renewed selling and investors reduced their exposure to digital assets through exchange-traded funds. Daily tallies like these, published by trackers such as Farside after each trading session, have become a widely followed gauge of investor demand since the first US spot crypto funds began trading in 2024.

BlackRock Leads Bitcoin ETF Withdrawals

BlackRock's iShares Bitcoin Trust (IBIT) reported $405.3 million in outflows on November 2, an amount that exceeded the combined net withdrawals across all US spot Bitcoin ETFs that day. Fidelity's Wise Origin Bitcoin Fund (FBTC) was the only other fund to register movement, attracting $6.7 million in inflows. The remaining ten tracked Bitcoin funds reported no net flows, leaving BlackRock's fund solely responsible for the group's overall decline. IBIT has grown into the largest fund in the group, which began trading in January 2024, and Monday's breakdown showed how a single issuer's flows can determine the category's daily total.

The latest figures followed an even larger withdrawal day: Bitcoin ETFs lost $643.2 million on October 30, ending four consecutive days of inflows. Net outflows for the Bitcoin funds totaled roughly $515 million for October as a whole, the data also showed. Bitcoin's price rebounded toward $79,000 on November 2 before weakening again in subsequent trading.

Ether ETFs Extend Six-Day Withdrawal Streak

US spot Ether ETFs posted their sixth consecutive trading day of outflows on Monday, a withdrawal streak that began on October 26 and has continued through the start of November. The Ether products launched in July 2024, several months after their Bitcoin counterparts, opening a brokerage route to the second-largest cryptocurrency by market value.

BlackRock's iShares Ethereum Trust (ETHA) accounted for $138.3 million of the day's redemptions. Another BlackRock fund, ETHB, lost $4.6 million, while Morgan Stanley's MSSE added $3.2 million.

Ether funds lost a record $1.61 billion during October — their largest monthly outflow — after three months of inflows. Meanwhile, Bitcoin fell below $77,000 on November 3, as losses in the stock market added to downward pressure on cryptocurrency prices.

Bitcoin and Ether Funds Retain Billions

Despite the recent withdrawals, US Bitcoin ETFs held an estimated $98 billion to $100 billion in assets around the reporting period, meaning Monday's net outflow represented less than 0.5% of the group's total. Spot Ether ETFs held approximately $13.2 billion. Their $139.7 million daily withdrawal equaled slightly more than 1% of assets, a larger proportional share than the Bitcoin funds recorded.

ETF flow figures measure only the net difference between new investor money and withdrawals. They do not establish which investors sold, or explain the decisions behind the redemptions. The flows move through the daily creation and redemption of fund shares, so an outflow day records that redemptions outnumbered new purchases — a snapshot of positioning rather than an account of investor motives.

Binance Hack Precedes Latest ETF Withdrawals

Monday's ETF withdrawals followed a reported $6.3 billion theft from the Binance exchange on October 29. Binance later reported billions of dollars in customer withdrawals after it restarted some of its services.

No direct evidence connects the security breach to Monday's ETF redemptions, and fund flow data cannot confirm whether investors plan further withdrawals or will return with new purchases. Farside's post-session updates will show whether Ether's outflow streak stretches past six days and how November's cumulative flows compare with October's net redemptions.