$3.5 Billion Lost: Bitcoin, Ether Spot ETFs See Ugly November

$3.5 Billion Lost: Bitcoin, Ether Spot ETFs See Ugly November

After months of steady inflows, November has turned into a brutal month for Bitcoin and Ethereum spot ETFs, with a combined $3.5 billion exiting the market as investor sentiment cools.

The sell-off comes amid a wider risk-off shift across global markets, fueled by rising Treasury yields, slower crypto momentum, and uncertainty around Federal Reserve policy heading into year-end. While Bitcoin remains comfortably above long-term support levels, ETF data shows that institutional appetite has sharply weakened in early November.

Bitcoin spot ETFs saw the heaviest damage, reversing a strong October and posting some of their worst daily outflows since launch. Ethereum ETFs, which had only recently begun showing steady inflow patterns, also flipped negative — a sign that institutions are stepping back across the board, not just on BTC.

Analysts say the outflows don’t necessarily signal a long-term trend, but they do show how sensitive crypto ETFs remain to macro shifts. With volatility ticking up and liquidity thinning toward December, traders are now watching whether ETF flows stabilize — or whether more red days are coming.

For now, November stands as a clear reminder: even with mainstream adoption growing, crypto ETFs are still tightly tied to broader market fear.