TL;DR
U.S. spot crypto ETFs recorded more than $540 million in combined net outflows Thursday, with Bitcoin products accounting for $430.2 million and Ethereum funds losing roughly $99.9 million.
Fidelity’s FBTC led Bitcoin withdrawals with $199.9 million, while BlackRock’s ETHA drove Ethereum redemptions with $75.2 million.
Solana, Zcash and Hyperliquid ETFs also posted outflows, while XRP products recorded zero flows as weekly withdrawals across major U.S. crypto funds exceeded $1.1 billion.
U.S. spot crypto ETFs recorded more than $540 million in combined net outflows on Thursday as digital assets and technology stocks sold off after the midterm elections. According to SoSoValue data , Bitcoin funds alone posted $430.2 million in net redemptions. The session marked a broad retreat from regulated crypto exposure rather than a Bitcoin-only move , putting renewed focus on Bitcoin ETFs as investors reassessed risk across markets.
Bitcoin and Ethereum ETFs Lead the Withdrawals
Fidelity’s FBTC led Bitcoin ETF outflows with $199.9 million, followed by BlackRock’s IBIT at $105 million and Grayscale’s GBTC at $49.9 million. Franklin Templeton’s EZBC, VanEck’s HODL and ARK 21Shares’ ARKB also recorded withdrawals, while the remaining Bitcoin products showed no flows. Bitcoin ETFs accounted for most of Thursday’s crypto fund redemptions , extending a period of unstable institutional positioning after recent Bitcoin ETF outflows .
Ethereum funds added roughly $99.9 million in net withdrawals. BlackRock’s ETHA led with $75.2 million, while ETHB lost $22 million and Fidelity’s FETH also posted redemptions. Bitcoin and Ethereum funds therefore shed about $530 million combined. The selling was concentrated in the two largest spot crypto ETF categories , resembling earlier sessions when Bitcoin and Ethereum ETFs moved together into net outflows rather than showing a rotation between the two assets.
Smaller crypto ETF categories also finished mostly negative. Solana products recorded about $1.2 million in net outflows, Zcash funds lost $11 million and Hyperliquid ETFs shed roughly $3 million. XRP products were the exception, recording zero net flows for the session. The cross-asset pattern points to broad risk reduction across regulated crypto products, although the magnitude varied significantly by asset , consistent with previous periods of mixed crypto ETF positioning .
The ETF withdrawals coincided with a wider market decline. Bitcoin fell 5.6% on Thursday, Ether dropped 7.8%, and a broad crypto market index lost 6.4%. Technology equities also weakened sharply, with the Nasdaq Composite down 5.5% and the S&P 500 falling 4.4%. More than $1 billion in leveraged crypto positions were liquidated over 24 hours. The simultaneous declines show a broad risk-off session, but ETF outflows alone do not establish what caused the market selloff , even as weekly withdrawals across major U.S. crypto ETFs moved above $1.1 billion and echoed earlier broad ETF redemption waves . That keeps institutional flow trends under scrutiny. Institutional flows therefore remain a key signal.
