U.S. spot Bitcoin and Ethereum exchange-traded funds recorded another heavy redemption session on November 6, extending a week dominated by withdrawals. According to the CryptoETF.today dashboard, Bitcoin products posted approximately $411.9 million in net outflows while Ethereum products lost about $93.3 million. The two categories therefore shed roughly $505 million in a single session, although ETF flows measure net creations and redemptions rather than identifying the investors ultimately responsible for them.
The Friday decline capped an unusually weak five-session period. CryptoETF.today calculated $1.28 billion in weekly Bitcoin ETF outflows and $365.48 million from Ethereum products between November 2 and November 6. Combined Bitcoin and Ethereum redemptions reached approximately $1.65 billion for the week, with November 4 providing the only session in which both categories finished with positive aggregate flows.
BlackRock Leads Weekly ETF Outflows
BlackRock’s iShares Bitcoin Trust was the dominant source of Bitcoin withdrawals. IBIT lost approximately $403 million on November 6 and $1.21 billion across the five trading sessions, compared with the Bitcoin ETF category’s $1.28 billion weekly net outflow. The concentration reflects how movements in one exceptionally large fund can dominate the aggregate ETF headline even when competing products move in the opposite direction.
That pattern was already visible at the start of the week, when IBIT lost $405.3 million on November 2 while the entire Bitcoin ETF category recorded $398.6 million in withdrawals. Fidelity’s FBTC subsequently attracted $42.8 million on November 6 and finished the week with $93.1 million in net inflows. Bitcoin ETF investors were therefore not moving uniformly in one direction despite the strongly negative weekly total.
The latest withdrawals also follow repeated reversals throughout October. Bitcoin ETFs lost $635.6 million on October 22 immediately after attracting $524.8 million in the previous session. Earlier that month, another two-session outflow run removed more than $730 million before flows changed direction again. Those swings show that large daily redemptions have repeatedly occurred without developing into a permanently one-way allocation trend.
Ethereum products showed similar concentration during the latest session. BlackRock’s ETHA recorded approximately $90.8 million in net outflows on November 6, while Fidelity’s FETH lost about $1.7 million and Grayscale’s Ethereum Mini Trust, ticker ETH, shed roughly $1.9 million. BlackRock’s separate iShares Staked Ethereum Trust ETF, ETHB, attracted approximately $1.1 million. ETHA accounted for almost all of Ethereum’s $93.3 million net daily withdrawal.
Ethereum Extends a Six-Week Outflow Run
Across the full week, Ethereum ETFs recorded approximately $365.5 million in net redemptions, marking a sixth consecutive negative week. ETHA alone lost roughly $346 million, while ETHB finished the period with approximately $47.9 million in withdrawals. The weekly result represents continued pressure on Ethereum investment products, but it does not establish that institutions specifically withdrew that amount, because ETF flow datasets do not identify whether creations and redemptions ultimately originate from institutions, advisers, hedge funds or retail investors.
The current weakness contrasts sharply with earlier reversals. Ethereum funds ended a 10-session redemption streak with $24.8 million of inflows on October 13, illustrating how quickly regulated crypto fund demand can change. Bitcoin experienced the opposite extreme in September, when its ETFs attracted $999 million in a single session. Short flow windows can therefore capture substantial repositioning without necessarily establishing a durable allocation regime.
Other crypto ETF categories also weakened during the November 2-6 period. CryptoETF.today’s finalized weekly data show Solana products losing $25.51 million, Hyperliquid ETFs shedding $15.61 million and Zcash products recording $13 million in withdrawals. Across all 16 asset categories tracked by the platform, weekly net outflows reached approximately $1.71 billion.
Bitcoin and Ethereum nevertheless accounted for about 96% of those aggregate weekly withdrawals, making the two largest crypto ETF markets responsible for nearly all of the negative flow. The clearest development is therefore not a proven retreat by a specific class of investor, but a concentrated week of ETF redemptions dominated by BlackRock’s IBIT and ETHA after several months of rapid shifts between creations and withdrawals.