US spot cryptocurrency exchange-traded funds logged significant withdrawals on November 11, with spot Bitcoin and Ethereum ETFs posting combined net outflows of $445 million, according to data attributed to SoSoValue, a platform that tracks daily flows for U.S. spot crypto ETFs.

Bitcoin investment products led the day's redemptions, shedding $300 million during the trading session, while spot Ethereum ETFs also faced selling pressure and recorded $145 million in net withdrawals. Taken together, the figures suggest investors reduced their net exposure to both major cryptocurrencies through regulated investment vehicles. The withdrawals, however, were not evenly distributed across individual funds: some ETFs continued attracting fresh capital despite the broader negative trend, and daily ETF flows can fluctuate considerably, meaning a single session should not be treated as a definitive measure of long-term investor sentiment.

Which Funds Were Hit?

The reported outflows reveal clear differences in individual fund performance. Bitcoin ETFs accounted for approximately 67.4% of the combined withdrawals, while Ethereum products made up the remainder. Within the Ethereum segment, BlackRock's ETHA was responsible for $130 million of the $145 million in net outflows, representing roughly 89.7% of the withdrawals reported across Ethereum funds. Meanwhile, Morgan Stanley's MSBT reportedly bucked the trend, recording $8.96 million in inflows and leading the individual Bitcoin funds that attracted new capital during the session.

The contrast between ETHA's outsized share of Ethereum redemptions and MSBT's position among the day's few inflow leaders underscores how individual ETFs can experience markedly different investor activity within the same session.

It is worth noting that net flows reflect the difference between creations and redemptions — the mechanics by which ETF shares are issued or retired — rather than the total value of cryptocurrency traded. The supplied figures have not been independently verified against the latest official fund disclosures, so subsequent daily flow tallies from SoSoValue and forthcoming official disclosures are worth watching to confirm whether the trend extended beyond this single session.

Wu Blockchain highlighted the flow data in a post on X:

Bitcoin ETFs Shed $300 Million, Ether Funds Lose $145 Million According to SoSoValue, U.S. spot Bitcoin ETFs recorded $300 million in net outflows on November 11, while Morgan Stanley's MSBT led individual fund inflows with $8.96 million. Spot Ethereum ETFs saw $145 million in… pic.twitter.com/5sn88B2JQX

— Wu Blockchain (@WuBlockchain) November 12, 2026

Source: Wu Blockchain on X

What the Withdrawals Mean for Crypto

The latest outflows suggest cautious positioning among investors using traditional financial products to access cryptocurrency markets. Spot ETFs, including Bitcoin funds that began trading in the United States in January 2024 and Ethereum funds launched later that year, hold the underlying digital assets directly, allowing investors to gain exposure through standard brokerage accounts without directly managing cryptocurrency wallets. Analysts monitor these funds because their flows can provide insight into demand from certain institutional and retail investors.

Persistent withdrawals may create additional pressure on market sentiment. However, a single negative session does not establish that investors are abandoning Bitcoin or Ethereum, as price movements also depend on spot trading demand, derivatives positioning, and broader financial conditions.

The reported inflow into MSBT demonstrates that some investment products can continue attracting buyers even during market-wide withdrawals.

For now, the combined $445 million outflow marks a negative trading session for U.S. spot Bitcoin and Ethereum ETFs, with future fund flows likely to receive close attention.

Source: CoinoMedia