U.S. Crypto ETFs Lose $539M as BlackRock Leads Outflows

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U.S. spot Bitcoin and Ethereum exchange-traded funds recorded $539 million in combined net outflows on November 2, 2026, according to SoSoValue. Bitcoin funds lost $399 million, while Ethereum products shed $140 million.

The figures show net withdrawals without establishing investors’ motives.

Net ETF outflows measure withdrawals from investment products and do not, by themselves, establish a custody or network security incident.

U.S. Crypto ETFs Lose $539M as BlackRock Leads Outflows — U.S. Bitcoin and Ethereum ETFs Record $539M in Net Outflows on November 2. (AI-generated image).

BlackRock Leads Bitcoin ETF Withdrawals

BlackRock’s iShares Bitcoin Trust (IBIT) recorded $405 million in net outflows, exceeding the entire Bitcoin ETF category’s net withdrawal as other funds attracted capital. Despite the decline, IBIT retained cumulative net inflows of $65.905 billion.

Fidelity’s Wise Origin Bitcoin Fund (FBTC) attracted $6.68 million in new capital, bringing its cumulative net inflows to $10.179 billion. The contrasting figures show how individual funds moved in different directions during the same trading session.

The combined net asset value of U.S. spot Bitcoin ETFs stood at $98.125 billion, equivalent to 6.36% of Bitcoin’s circulating market capitalisation. Cumulative net inflows across the category remained positive at $56.582 billion.

Ethereum ETFs Extend Losing Streak

According to SoSoValue’s Ethereum data, Ether funds recorded their sixth consecutive trading day of net outflows.

BlackRock’s iShares Ethereum Trust (ETHA) accounted for $138 million in withdrawals, reducing its cumulative net inflows since inception to $11.749 billion.

Another BlackRock product, the iShares Ethereum Trust Product (ETHB), registered $4.6 million in net outflows, leaving cumulative inflows of $783 million.

Morgan Stanley’s Ethereum Trust (MSSE), meanwhile, attracted $3.15 million in net inflows. Its positive result contrasted with the withdrawals from both BlackRock Ethereum products.

The fund-level differences highlight an important distinction: category-wide withdrawals do not mean every investment product experienced redemptions. Even during a negative session, individual Bitcoin and Ethereum funds continued attracting fresh capital.