Bitcoin and Ethereum ETFs shed $1.8B – Why investors are pulling back

The Spot Bitcoin [BTC] ETFs witnessed a sustained wave of outflows between the 30th of October and the 3rd of November, recording approximately $1.16 billion in cumulative net outflows in just three trading sessions.

According to Farside Investors data, on the 30th of October, the ETFs recorded their largest single-day outflow of the period, worth $643.2 million. 

In fact, the negative momentum continued on the 2nd of November, when BTC ETFs recorded another $398.6 million in net outflows. On the 3rd of November, however, the outflow momentum eased considerably, with total withdrawals declining to $115.6 million.

In these three days, BlackRock’s IBIT alone accounted for $734 million in outflows, making it the biggest contributor to the negative trend. 

Did Ethereum ETFs echo Bitcoin ETFs’ momentum?

On the other hand, spot Ethereum [ETH] ETFs continued to experience persistent capital outflows for seven consecutive days from the 26th of October to the 3rd of November 2026. Overall, Ethereum spot ETFs recorded approximately $656.4 million in cumulative net outflows.

Remarking on the same, Bloomberg analyst James Seyffart said, 

Things were looking pretty good into the end of September but a chunk of that reversed course in October.

He further added that the average cost basis of ETF holdings stood at $3,182, compared to ETH’s market price of approximately $2,341, which left investors with aggregate unrealized losses of nearly $3.47 billion. 

Other altcoin ETF performance

Meanwhile, on the altcoin front, XRP ETFs witnessed a $529.51K net outflow on the 2nd of November.

Whereas, Binance [BNB] ETFs recorded net outflows of $271.01K on 3rd November. Hyperliquid [HYPE] spot ETFs, however, stood out with positive momentum, recording $605.08K in net inflows on the same day, following substantial outflows of $2.86 million a day earlier. 

In contrast, Solana [SOL] spot ETFs recorded zero flows on both days.

Assessing other macroeconomic events

All this happened amidst a tough macro backdrop, where the U.S. Federal Reserve’s October decision to maintain interest rates at 3.75%–4.00% ignited concerns about persistent inflation.

Meanwhile, the 3rd November U.S. midterm elections added to market caution, while a modest recovery in the U.S. dollar further pressured dollar-denominated assets.

Topping all of this was the Binance security breach that triggered fresh anxiety across the cryptocurrency market, potentially accelerating institutional withdrawals. 

Final Summary

• As compared to BTC ETFs, spot Ethereum ETFs were in a much worse spot.
• Yet, the 24-hour price hike of tokens suggests that investors are gearing up for momentum.