U.S. spot Bitcoin exchange-traded funds recorded $430 million in net outflows on November 5, while spot Ether ETFs lost $99.97 million, bringing combined Bitcoin and Ethereum ETF withdrawals for the trading session to $529.97 million. Fidelity's FBTC led Bitcoin product withdrawals with roughly $200 million, and BlackRock's ETHA topped Ether ETF outflows at $75.20 million.

U.S. spot cryptocurrency exchange-traded funds experienced another day of selling pressure on November 5, with Bitcoin and Ethereum products both posting substantial net withdrawals. Spot Bitcoin ETFs accounted for $430 million of the combined total, while spot Ether ETFs recorded the remaining $99.97 million in net outflows. These products hold their respective cryptocurrencies directly and trade on U.S. stock exchanges, giving traditional investors regulated exposure to Bitcoin and Ethereum, the two largest cryptocurrencies by market value. U.S. spot Bitcoin ETFs began trading in January 2024, and spot Ether ETFs followed in July 2024.

The figures suggest that investors reduced their exposure to both major cryptocurrencies through regulated investment products. ETF flows are closely watched because they provide insight into demand from traditional market participants. However, a day of withdrawals does not necessarily mean every investor has turned bearish — some transactions may reflect portfolio rebalancing, profit-taking, or short-term risk management.

Fidelity's FBTC Leads Bitcoin ETF Withdrawals

The day's outflows were driven primarily by Bitcoin investment products. Fidelity's Wise Origin Bitcoin Fund (FBTC) recorded approximately $200 million in net outflows, representing about 46.5% of the $430 million withdrawn from U.S. spot Bitcoin ETFs during the session. The remaining $230 million in net withdrawals reflected the combined activity of other Bitcoin ETFs. FBTC debuted in January 2024 as part of the first wave of U.S. spot Bitcoin ETFs and is one of the largest funds in the category by assets under management.

Large redemptions from a major fund can attract market attention, particularly when investors are already concerned about cryptocurrency volatility. Nevertheless, ETF redemptions do not automatically translate into an equivalent amount of immediate selling on public cryptocurrency exchanges. Spot ETFs hold Bitcoin with custodians and process investor exits through fund share redemptions, so the actual market impact depends on fund operations, trading arrangements, and available liquidity, and Bitcoin's price direction also depends on broader investor demand and market conditions.

Wu Blockchain on X

Spot Bitcoin ETFs Saw $430M in Net Outflows on Nov. 5; Ether ETFs Saw $99.97M On November 5 (ET), U.S. spot Bitcoin ETFs recorded $430 million in total net outflows, led by Fidelity's FBTC with $200 million. Spot Ether ETFs recorded $99.97 million in net outflows, led by… pic.twitter.com/NbvvHLcBNV — Wu Blockchain (@WuBlockchain) November 6, 2026

Source: Wu Blockchain (@WuBlockchain) on X

BlackRock's ETHA Records $75.20 Million in Outflows

Ethereum investment products experienced similar pressure on November 5. U.S. spot Ether ETFs registered $99.97 million in total net outflows, with BlackRock's iShares Ethereum Trust ETF (ETHA) accounting for $75.20 million — approximately 75.2% of the day's net Ether ETF withdrawals. The remaining $24.77 million reflected the combined net flows of other Ether funds. ETHA began trading in July 2024 as part of the first wave of U.S. spot Ether ETFs and is issued by BlackRock, the world's largest asset manager.

The data indicate that selling pressure affected both cryptocurrency investment categories during the same session. However, one trading day's figures cannot establish a lasting institutional trend. Investors will be watching whether withdrawals continue or whether ETF demand begins to recover. Daily flow disclosures for U.S. spot crypto ETFs are published each trading session, and upcoming sessions will show whether November 5 stands alone or extends into a longer stretch of withdrawals. Sustained outflows could weigh on sentiment, while renewed inflows may suggest improving investor confidence.

For now, the combined $529.97 million withdrawal highlights cautious positioning among investors using U.S. spot Bitcoin and Ether ETFs.