US spot Bitcoin ETFs started November with significant capital outflows. BlackRock’s iShares Bitcoin Trust (IBIT) suffered the largest blow, losing more than $405 million in a single trading day. This marked its worst daily performance since late June, reflecting growing caution among cryptocurrency investors.
The withdrawals followed a difficult October and came amid heightened uncertainty across the crypto market. The recent $6.3 billion security breach involving Binance has further weakened investor confidence.
Ethereum ETFs have also experienced sustained withdrawals, suggesting that the pressure extends beyond Bitcoin.
Bitcoin ETFs Lose Nearly $399 Million in One Day
According to data from Farside Investors, US spot Bitcoin ETFs recorded net outflows of $398.6 million on November 2.
BlackRock’s IBIT accounted for most of these withdrawals, losing approximately $405.3 million. This represented its largest single-day outflow since June 26, when investors withdrew $444.5 million.
Meanwhile, Fidelity’s Wise Origin Bitcoin Fund (FBTC) attracted $6.7 million in new capital, partially offsetting the losses.
The latest withdrawals followed a weak October, when US spot Bitcoin ETFs recorded approximately $515 million in net outflows.
Year-to-date flows also turned negative, with cumulative net withdrawals reaching roughly $38 million in 2026. Nevertheless, total net inflows since the funds launched remained around $56.58 billion.
Binance Hack Adds Pressure as Ethereum ETFs Continue Losing Capital
The withdrawals occurred during a period of increased cryptocurrency market volatility.
One factor affecting sentiment was the recent $6.3 billion security incident involving Binance, which raised concerns about the reliability of cryptocurrency infrastructure.
Edwin Mata, CEO of tokenization company Brickken, suggested that investors naturally reduce exposure to riskier assets during periods of uncertainty.
However, ETF withdrawals do not necessarily indicate a permanent loss of confidence in cryptocurrencies. They may simply reflect temporary adjustments to investment portfolios.
Bitcoin also experienced considerable selling pressure. On November 2, its price briefly fell below $76,400, reaching its lowest level since August.
At the time of the original report, Bitcoin traded near $77,500, down approximately 3.7% over seven days.
Ethereum investment products faced similar difficulties.
US spot Ethereum ETFs recorded approximately $140 million in net outflows on November 2, extending their losing streak to six consecutive trading sessions.
The situation followed a particularly difficult October, when Ethereum ETFs suffered record monthly withdrawals of approximately $1.61 billion.
The simultaneous withdrawals from Bitcoin and Ethereum ETFs suggest that institutional investors are becoming more cautious toward digital assets.
Still, short-term outflows should not automatically be interpreted as the end of institutional interest in cryptocurrencies.
ETFs allow investors to adjust their positions quickly. Recent withdrawals may therefore represent temporary risk management rather than a fundamental change in long-term expectations.
The coming trading sessions will be crucial. Continued outflows could weaken institutional demand and put additional pressure on cryptocurrency prices.
However, renewed capital inflows could signal improving confidence and support a broader market recovery.
