Bitcoin and Ethereum exchange-traded funds (ETFs) faced significant outflows in early November 2026, reflecting a shift in investor sentiment. Spot Bitcoin ETFs recorded approximately $1.16 billion in net outflows over three trading sessions, with the largest single-day outflow of $643.2 million occurring on October 30. The negative trend continued on November 2, with $398.6 million in outflows, before easing to $115.6 million on November 3. BlackRock’s IBIT ETF alone accounted for $734 million in outflows, making it the biggest contributor to the downturn.
Meanwhile, spot Ethereum ETFs experienced persistent outflows for seven consecutive days, totaling $656.4 million. Bloomberg analyst James Seyffart noted that the average cost basis of ETF holdings stood at $3,182, compared to Ethereum’s market price of $2,341, leaving investors with aggregate unrealized losses of nearly $3.47 billion. Seyffart remarked that the positive momentum seen in late September reversed in October.
On the altcoin front, XRP ETFs saw $529.51K in net outflows on November 2, while Binance ETFs recorded $271.01K in outflows on November 3. Hyperliquid ETFs bucked the trend with $605.08K in net inflows on November 3, following substantial outflows the previous day. Solana ETFs recorded zero flows on both days.
The outflows occurred against a challenging macroeconomic backdrop, including the U.S. Federal Reserve’s decision to maintain interest rates at 3.75%, 4.00%, concerns about persistent inflation, and the U.S. midterm elections on November 3. A modest recovery in the U.S. dollar further pressured dollar-denominated assets, while a Binance security breach added to market anxiety, potentially accelerating institutional withdrawals.