Spot bitcoin ETFs record $3.5 billion in November outflows

Data from SoSoValue shows that outflows continued for four straight weeks beginning October 31, totaling more than $4.34 billion. The month ended with three days of inflows ahead of the Thanksgiving holiday.

BlackRock’s IBIT, the largest fund in the category, was the main contributor to the decline. It recorded $2.34 billion in monthly outflows, including its biggest single-day withdrawal since launch — $523 million on November 18. Still, total net inflows into spot bitcoin ETFs remain positive at $57.71 billion, with combined assets of $119.4 billion, or about 6.56% of bitcoin’s market cap.

The recent outflows reflect profit-taking after BTC’s move to new highs and year-end portfolio rebalancing. Institutional investors remain interested in bitcoin but are taking a more cautious approach amid macro uncertainty.

Ether ETFs also saw large withdrawals, with $1.42 billion leaving in November — the biggest monthly outflow since launch. Even so, the category ended the month with five consecutive days of inflows.

New altcoin ETFs, however, show a different trend. Recently launched funds for Solana, XRP, and other assets continue to post steady weekly inflows. XRP ETFs have accumulated $666 million to date, while Canary ETFs for Litecoin and Hedera have gathered $7 million and $36 million, respectively.

The interest in new products reflects investors’ efforts to diversify their crypto exposure, though institutional capital remains centered on bitcoin and ether due to regulatory clarity and liquidity. Until more defined regulatory frameworks emerge, these two assets will continue to anchor institutional portfolios.

The market is also preparing for the launch of the first US spot Chainlink ETF. The Grayscale fund could go live as early as this week, expanding the institutional product lineup and adding demand to the oracle-token segment.