In a significant downturn, U.S. spot Bitcoin ETFs have experienced their longest streak of net outflows since July, with total withdrawals hitting $1.44 billion over the past five days. According to Trader T data, a substantial outflow of $299.87 million was recorded on November 11 alone.
Outflows Concentrated in IBIT and ETHA
On that same day, Farside computed a $299.8 million net outflow from spot Bitcoin funds. BlackRock’s IBIT fund bore the brunt with a $269.7 million separation, accounting for nearly 90% of the daily total. Meanwhile, Grayscale’s GBTC fund saw a $39.1 million outflow, and Morgan Stanley’s MSBT fund was the only Bitcoin ETF to record a net inflow at $9 million. Other funds, including FBTC, Grayscale Bitcoin Mini Trust, BITB, and ARKB, reported zero net flow.
U.S. spot Ethereum ETFs also suffered, witnessing a $144.8 million net outflow. ETHA led with $129.8 million, while ETHB, ETHW, FETH, and EZET recorded withdrawals of $5.3 million, $4.8 million, $4.1 million, and $800,000 respectively. Other Ethereum funds registered no net flow.
Whale Exits $32.85 Million in Two Minutes
In a related development, TradingBeats reports highlight a cryptocurrency whale identified by the address prefix 0xec4a, who initiated the closure of substantial Bitcoin and Ethereum positions on November 12 at 06:30. This strategic move netted the investor a profit of approximately $142,000 within just two minutes, ahead of further price declines.
The whale concluded a long position involving 331.49 BTC at an average price of $74,181, deriving a profit of $133,500 from the approximately $24.59 million transaction. In the Ethereum market, the investor closed a 4,000 ETH position at an average of $2,066.05, earning $8,560 from the $8.26 million transaction.
