Bitcoin Spot ETF Outflows Reach Second Highest in History

Key Points:

• Bitcoin Spot ETF outflows reached $541M, the second-highest single-day outflow.
• Ethereum Spot ETF also saw major outflows, with $63M withdrawn on November 4.

Bitcoin Spot ETF Outflows hit $541M on November 4, the second-highest single-day outflow in history. Ethereum spot ETF also saw significant outflows at $63M.

Bitcoin Spot ETF Outflows Reach Historic Levels on November 4

In all, Bitcoin spot ETFs saw a breathtaking net outflow of $541 million on November 4, the second-highest single-day outflow in the fund’s history. That is just a close call behind the $563 million recorded earlier on May 2, 2023, further indicating that turbulence is still seen in the crypto exchange-traded fund markets. Ethereum spot ETFs also saw big outflows amounting to $63 million on the same day, thereby indicating a wider trend across digital asset ETFs whereby investors reassess risk.

The recent Bitcoin Spot ETF outflows have shown possible changes in investor attitudes toward cryptocurrency-based exchange-traded funds. High net outflows may point to a shift in capital allocation or to a reaction against recent market uncertainties. Meanwhile, Ethereum’s outflow further underlines caution from institutional investors. Analysts closely watch this trend, as it could be indicative of major short-term market adjustments within the crypto ETF space, according to Sosovalue.

Read more: Bitcoin Spot ETF Outflows Hit $54.9M, First Decline in 7 Days