- U.S. spot Bitcoin ETFs recorded $300 million in outflows, while Ethereum ETFs lost $145 million, led by BlackRock’s ETHA.
- Glassnode reported $1.6 billion in Bitcoin ETF redemptions over 20 trading sessions, exceeding its $1.5 billion outflow threshold.
- CryptoQuant’s Analyst Consensus Index fell from -1.0σ to -1.8σ in seven days amid ETF withdrawals, inflation concerns, and Nasdaq weakness.
U.S. spot Bitcoin ETFs lost $300 million on November 11, while Ethereum funds recorded another $145 million in outflows. The withdrawals coincided with increasingly bearish analyst sentiment as Bitcoin approached $73,000. SoSoValue, CryptoQuant, and Glassnode reported weakening fund demand amid inflation concerns and broader market pressure.
Bitcoin and Ethereum ETFs Record Heavy Outflows
According to SoSoValue, Bitcoin spot ETFs recorded $300 million in net outflows on November 11. However, Morgan Stanley’s MSBT attracted $8.96 million, leading individual funds in daily inflows. Ethereum spot ETFs also recorded $145 million in net withdrawals.
BlackRock’s ETHA accounted for $130 million of those outflows. The figures came as CryptoQuant tracked a sharp decline in analyst sentiment. Its Analyst Consensus Index fell from -1.0σ to -1.8σ within seven days, while Bitcoin approached $73,000.
CryptoQuant attributed the worsening sentiment to ETF withdrawals, inflation concerns, and weakness in the Nasdaq. These factors coincided with reduced demand for U.S. spot Bitcoin funds.
Glassnode Tracks $1.6 Billion in ETF Redemptions
Glassnode reported that U.S. spot Bitcoin ETFs recorded $1.6 billion in net outflows over 20 trading sessions. The withdrawals crossed its $1.5 billion threshold for defining an outflow stretch on November 9.
However, Glassnode described the current period as relatively shallow compared with previous outflow stretches. It also noted that inflows returned only after Bitcoin reached its low during earlier periods.
Bitcoin ETF Flows Show Changing Demand Since 2024
The historical chart tracks Bitcoin ETF flows and BTC prices from January 2024 through November 2026. Early 2024 brought inflows above $500 million, including one near $1 billion, alongside a Bitcoin recovery.
Between October and November 2024, inflows reached approximately $1.35 billion. However, flows became volatile in early 2025, including an outflow near $1 billion. Inflows returned between June and September 2025, with several spikes exceeding $1 billion. Selling pressure increased toward November.
In 2026, inflows periodically reached $500 million to $800 million. September recorded another spike near $1 billion, but withdrawals repeatedly exceeded $500 million. The latest chart activity also shows renewed outflows.
