Spot ETF Outflows Hit $201M as IBIT and ETHA Lead

U.S. spot ETF outflows hit about $201 million across Bitcoin and Ether funds on November 3. BlackRock's products led the exits. Bitcoin funds shed $115.6 million. Ether funds lost $85.3 million. The figures come from Farside Investors' Bitcoin ETF flow update. The flows landed as U.S. midterm results rolled in.

BlackRock's IBIT recorded $95 million in Bitcoin redemptions. That was the largest single Bitcoin fund exit. Grayscale's Bitcoin Mini Trust (BTC) followed with $52.6 million. Bitwise's BITB added $21.9 million. Fidelity's FBTC took in $6.8 million. Morgan Stanley's MSBT added $3.3 million. Those inflows offset only part of the day's withdrawals.

Spot ETF Outflows Concentrate in IBIT and ETHA

Ether funds followed the same pattern. BlackRock's ETHA recorded $74.4 million in net outflows. Grayscale's Ethereum Mini Trust (ETH) lost another $10.9 million. No other Ethereum ETF logged net flows in the session, per Farside data.

ETHA alone made up most of the Ether category's daily withdrawal. IBIT carried the bulk of the Bitcoin side. Selling centered on BlackRock's largest products. It was not a broad industry exit.

Two-Day Spot ETF Outflows Near $739M After Nov. 2 Sell-Off

The latest withdrawals followed a much larger wave on November 2. U.S. spot Bitcoin ETFs lost about $398.6 million that day. Ethereum funds shed $139.7 million. Combined, the two categories lost nearly $538 million in a single session, as previously reported.

BlackRock products drove most of those redemptions. IBIT recorded $405.3 million in outflows. ETHA lost $138.3 million. Fidelity's FBTC attracted $6.7 million. Morgan Stanley's MSSE took in $3.2 million.

November 3 brought the two-day total for Bitcoin and Ether funds to about $739 million. Bitcoin funds have now logged three straight withdrawal sessions. Ethereum products have posted seven consecutive days of net outflows. That streak also tracks recent Bitcoin ETF outflows in prior weeks.

Midterm Results Spark a Bitcoin and Ether Rebound

The ETF withdrawals landed as investors watched U.S. midterm results. Crypto policy stakes rode with those races.

After the results, Bitcoin and Ethereum recovered from earlier declines. Analyst Ash Crypto noted Bitcoin rose 3.65% from its low and moved back above $78,000. Ethereum advanced 4.57%, trading near $2,320.

Journalist Eleanor Terrett reported that more than $64 million in industry spending failed to stop Sherrod Brown from winning his Senate race. Brown could take a committee leadership post with jurisdiction over cryptocurrency. Several pro-crypto Republican lawmakers also lost seats, including Bryan Steil, Zach Nunn, and Ann Wagner. Republican Mike Lawler conceded to Democrat Cait Conley in New York's 17th District. The Associated Press had not called the race yet, because delayed ballots were still being counted.

Democrats strengthened their Senate majority. Kirsten Gillibrand helped deliver a larger-than-expected win. Republicans lost control of the chamber. Tim Scott is expected to become the Banking Committee's ranking member. In the House, Maxine Waters is expected to take Financial Services if Democrats secure the chamber. French Hill's race remained uncalled. Pro-crypto Republican Andy Barr won Kentucky's open Senate seat. Pete Ricketts retained his Nebraska seat.

Spot ETF outflows are still stacking in BlackRock's flagship funds. Rival inflows are not large enough to offset them. The coming sessions should show whether the midterm rebound holds or whether institutional demand keeps cooling.