Spot bitcoin ETF outflows hit $3.5 billion in November, largest monthly outflow since February

U.S. spot bitcoin exchange-traded funds reported $3.48 billion in net outflows in November, marking the largest amount of monthly negative flows since February.

According to data from SoSoValue, spot bitcoin ETFs recorded four straight weeks of net outflows starting the week of Oct. 31, with more than $4.34 billion leaving the funds over that period. However, November ended with three consecutive days of net inflows ahead of the U.S. Thanksgiving holiday.

BlackRock’s IBIT, the largest bitcoin ETF in terms of net assets, reported $2.34 billion in net outflows in November. On Nov. 18, it saw its largest daily net outflow since launch, worth $523 million.

“The spot BTC ETF outflows reflect institutional profit-taking after BTC’s rally to all-time highs and year-end portfolio rebalancing rather than a fundamental loss of confidence,” LVRG Director Nick Ruck said. “Cumulative inflows remain positive, and Bitcoin futures open interest continues to rise, confirming institutions are still structurally long but now more valuation-sensitive amid macro uncertainty.”

The U.S. bitcoin funds’ cumulative total net inflow sits at $57.71 billion as of Nov. 28, with $119.4 billion worth in net assets representing 6.56% of bitcoin’s total market capitalization.

Spot Ethereum ETFs also saw a monthly net outflow of $1.42 billion — their largest on record — despite ending the month with five consecutive days of net inflows.

Meanwhile, freshly launched Solana, XRP and other altcoin ETFs have reported net weekly inflows since their debut. XRP ETFs saw $666 million in cumulative inflows so far. Canary’s Litecoin and Hedera ETF saw $7 million and $36 million worth of inflows last month, respectively.

“New spot altcoin ETFs, including Solana, have attracted modest inflows with elevated volatility, highlighting that institutional capital remains firmly concentrated in Bitcoin and Ethereum until greater regulatory clarity and on-chain stability emerge,” Ruck said.

NovaDius Wealth President Nate Geraci wrote on X Sunday that Grayscale is set to launch the country’s first spot Chainlink ETF this week, adding on to the growing list of crypto products.

© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

 

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