Bitcoin and Ether ETFs Bleed $385.6 Million in Combined Outflows

U.S. spot Bitcoin and Ether ETFs posted $385.6 million in combined net outflows on Monday, Nov. 9, with BlackRock's IBIT and BlackRock's ETHA leading withdrawals in their respective fund groups.

Bitcoin ETFs lost $201 million net, according to the daily flow data. IBIT, the largest spot Bitcoin fund by assets, accounted for $213.2 million in outflows on its own. Ark Invest's ARKB shed a further $9.9 million.

One Bitcoin product bucked the direction. Morgan Stanley's MSBT took in $22.1 million in inflows, partially offsetting the wider group's losses. The remaining eleven Bitcoin funds — FBTC, BITB, BTCO, EZBC, BRRR, HODL, BTCW, GBTC and BTC among them — recorded zero net flows for the session.

How did the Ether fund group perform?

Ether ETFs fared almost as badly, posting $184.6 million in net outflows. ETHA led the group's withdrawals at $119.3 million — roughly 65% of the entire Ether-side total.

The withdrawals spread across nearly the whole Ether lineup:

• ETH: $25 million out
• ETHB: $20.8 million out
• FETH: $19.1 million out
• TETH: $2 million out

MSSE, the sole Ether fund in positive territory, attracted $1.6 million in inflows. ETHW, ETHV, QETH, EZET and ETHE all recorded no flows.

Is the pace of outflows accelerating?

The combined Monday total marks a deceleration from the previous session. On Friday, Nov. 6, the two fund groups together bled approximately $505.2 million — meaning Monday's figure came in about $120 million lower.

Still, two consecutive sessions of net withdrawals across both asset classes point to sustained distribution rather than a one-day anomaly. The concentration of flows in BlackRock's two products is notable: IBIT and ETHA together accounted for $332.5 million of the $385.6 million combined total, or about 86% of all Monday outflows.

The pattern is consistent with a market where liquidity has consolidated around the two largest issuer products, leaving smaller funds with flat or negligible activity. Eleven of the twelve Bitcoin funds that reported zero movement on the day reinforce that reading — passive capital is either sitting still or exiting through the biggest doors.

Inflow exceptions on both sides of the market came from Morgan Stanley-branded products, MSBT and MSSE, which together added $23.7 million against the tide.

What comes next for ETF flows?

Daily flow data remains the fastest read on institutional positioning in spot crypto ETFs, and consecutive negative prints in both Bitcoin and Ether products will draw scrutiny in the sessions ahead. Whether Monday's softer total relative to Nov. 6 marks a cooling of the withdrawal trend or a pause before further redemptions will show in the next set of daily figures.