US Bitcoin ETFs see $399M in outflows, Ether funds lose $140M

BlackRock's IBIT drove the Bitcoin exits on November 2, while Ether funds extended their redemption streak to six straight days US spot Bitcoin ETFs shed roughly $399 million on November 2, and spot Ether ETFs lost another $140 million on the same day. The more precise figure for Bitcoin funds was a net outflow of $398.6 million. Nearly all of it traced back to a single product. BlackRock’s iShares Bitcoin Trust, ticker IBIT, recorded redemptions of $405.3 million. That one fund’s outflow was larger than the entire category’s net figure. A quick bit of arithmetic shows what that means. If IBIT lost more than the group as a whole, the remaining Bitcoin ETFs were collectively slightly positive on the day. November 2 was also not an isolated event.

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