After briefly breaking a six-day losing streak, Bitcoin ETF outflows roared back on November 7, erasing the prior day’s gains and marking one of the sharpest single-day redemptions in ETF history.
Spot Bitcoin ETFs saw a massive $558.4 million in outflows, while Ethereum ETFs lost another $46.6 million, highlighting renewed profit-taking and cautious institutional sentiment across crypto markets.
Bitcoin ETF Outflows Surge to $558 Million
Following modest inflows on November 6, spot Bitcoin ETFs experienced a sudden reversal.
- Fidelity (FBTC): $256.7 M outflow
- ARK Invest: $144.2 M outflow
- BlackRock: $131.4 M outflow
Together, these three issuers accounted for nearly the entire $558.4 M daily loss, bringing the week’s total Bitcoin ETF outflows to $1.22 billion — one of the worst on record.
Despite the heavy redemptions, Bitcoin’s price spiked from $100K to $104K before cooling near $102K. The asset dipped below $100K several times this week but has now logged six straight months closing above $100K.
Meanwhile, Bitcoin Open Interest (OI) remains stable around $68.82 B, unchanged since the October 10 pullback — a sign that derivatives traders are staying in their positions despite ETF outflows.
Ethereum ETFs Join the Sell-Off
Ethereum ETFs also flipped red after a brief respite. On November 7, total outflows reached $46.6 M, led by Fidelity’s $72.2 M withdrawal.
In contrast, BlackRock logged a $34.4 M inflow, marking its second consecutive day of positive activity.
For the week, Ethereum ETF outflows totaled $507.83 M, the third-largest weekly drawdown in the product’s history.
Even with the selling, ETH rose from $3,194 to $3,487 intraday before settling around $3,450.
Open Interest for Ethereum futures improved to $39.75 B, reflecting renewed speculative appetite — especially after an insider whale reportedly opened a $137 M long position on ETH with 5× leverage.
Market Takeaways
- Institutional rotation continues: Big issuers are reshuffling exposure, signaling caution but not capitulation.
- Derivatives traders still engaged: Stable OI shows leverage hasn’t unwound, supporting short-term volatility.
- Price resilience matters: Both BTC and ETH absorbed ETF selling without breaking major support.
- Mixed sentiment ahead: Outflows signal profit-taking, while on-chain activity and leveraged longs hint that the bull trend may not be over.
Conclusion
The $558 million Bitcoin ETF outflow on November 7 caps one of the toughest weeks since spot ETFs launched, with more than $1.22 billion leaving BTC funds and $507 million from ETH funds.
Yet both assets remain above key psychological levels, derivatives markets are steady, and large traders are still taking bold positions.
In short — flows are flashing caution, but conviction hasn’t vanished.
