U.S. Bitcoin and Ether ETFs recorded $1.65 billion in combined net outflows during Nov. 2–6, with BlackRock's IBIT leading the Bitcoin withdrawals. Bitcoin trades above $76,000 after a selloff, but the withdrawals suggest institutional investors have yet to provide sustained support.
U.S. spot Bitcoin ETFs recorded $411.9 million in net withdrawals on Nov. 6, according to Farside Investors data. Ether funds lost another $93.3 million, leaving both categories negative for a second consecutive session.
BlackRock's IBIT drives Bitcoin ETF withdrawals
BlackRock's IBIT accounted for $403 million of Friday's Bitcoin withdrawals. Fidelity's FBTC moved the other way, taking in $42.8 million.
Over the full week, IBIT lost $1.21 billion. Fidelity still finished with $93.1 million in net subscriptions, as its $236.7 million intake on Wednesday outweighed Thursday's $199.9 million withdrawal.
Ether funds lose $365.2 million
Ether funds recorded their own withdrawals. BlackRock's ETHA finished Nov. 2–6 with $345.9 million in net withdrawals, and the category's only positive session came on Wednesday, with a $53 million inflow.
AMINA Bank's head of derivatives trading, Andreja Cobeljic, named renewed Ether ETF buying as a signal he would watch for institutional demand. He said: "Simply put, ETH flows."
Bitcoin steadies near $76,000
Bitcoin was trading up 0.59% at $76,103.2 as of 03:13 ET on Saturday, according to Investing.com. The withdrawals suggest institutional investors have yet to provide sustained support after the cryptocurrency's sharp decline.
Bitcoin had fallen about 5.2% over 24 hours during Friday's earlier trading, and more than $1.27 billion in cryptocurrency derivatives positions were liquidated in that period.
For traders, $80,000 remains a nearby recovery marker, with $73,000 cited as a possible downside level. The immediate test is whether Saturday's bounce can hold without a reversal in ETF flows.
Sources: crypto.news, Investing.com
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