- US spot Bitcoin and Ethereum ETFs recorded a combined $530 million in net outflows on Thursday, November 5, 2026.
- The withdrawals erased the gains made after the US midterm elections, as a broader Wall Street sell-off hit both equities and crypto.
- Bitcoin ETFs have now posted $869.8 million in net outflows for November so far, with BlackRock’s funds leading the redemptions.
US spot Bitcoin and Ethereum exchange-traded funds saw $530 million leave the products on Thursday, November 5, 2026, reversing the modest inflows seen the previous day. The outflows coincided with a sharp decline in US equities, which pulled crypto prices lower after a brief post-election rally.
What Happened
Data from Farside Investors shows that US spot Bitcoin ETFs lost $430.23 million on November 5, 2026, while Ethereum ETFs recorded $99.98 million in net outflows over the same session.
BlackRock’s iShares Bitcoin Trust (IBIT) registered $105 million in outflows that day, its fifth straight session of net withdrawals. Over those five sessions, the fund shed roughly $1.04 billion, including $405.3 million on November 2, 2026. Across all US spot Bitcoin ETFs, cumulative net outflows reached about $1.51 billion across the five sessions beginning October 30, 2026, despite a brief return to positive flows on Wednesday, November 4, 2026.
Fidelity’s FBTC had the largest single-fund withdrawal on Thursday, with $199.87 million leaving the product. That followed a day in which the fund had taken in $236.7 million and helped lead the sector’s short-lived recovery. Grayscale’s GBTC lost $49.9 million, Franklin Templeton’s EZBC lost $32.92 million, and VanEck’s HODL lost $23.64 million. None of the 12 Bitcoin funds reported positive net flows during Thursday’s session.
Ethereum products showed a similar pattern, with BlackRock accounting for nearly all of the day’s withdrawals. Its flagship ETHA fund lost $75.2 million, and its staked Ethereum ETF, ETHB, recorded $22 million in outflows. Fidelity’s FETH shed $2.24 million.
Taken together, the latest withdrawals pushed November net outflows to $869.8 million for Bitcoin ETFs and to approximately $272 million for Ethereum ETFs, despite Ethereum products drawing $53 million on Wednesday.
Why It Matters
The flows are significant because they reversed a day of combined inflows. On Wednesday, the two ETF categories together attracted $127.6 million, as investors appeared to respond to the resolution of uncertainty surrounding the midterm elections. Thursday’s redemptions suggest that this relief did not hold, and that institutional and retail demand for spot products remains sensitive to broader market conditions.
For investors, the data points to a concentration of selling in a few large products. BlackRock’s funds are central to the trend on both the Bitcoin and Ethereum sides, which means changes in flows at a single asset manager can noticeably shift aggregate figures. It is also worth noting that these numbers measure net flows, not total assets under management, so they show the direction of capital movement rather than the full size of the holdings.
Prices reflected the pressure. Bitcoin fell 6.03% over 24 hours to $75,581.52, giving up a rebound above $80,000 that followed the Democratic Party’s sweeping congressional victory. Ethereum dropped to $2,237 as of press time, after trading above $2,400 during the earlier recovery.
Market Context
The outflows came as a wider sell-off hit traditional markets. US President Donald Trump described the day as one of the worst in the stock market’s history. According to The Kobeissi Letter, the Nasdaq 100 posted its steepest single-day decline since the 2020 pandemic, while the S&P 500 lost about $3 trillion in market value. The Kobeissi Letter attributed part of the equity weakness to concerns that Democratic control of Congress could lead to restrictions on the development of artificial intelligence infrastructure.
The simultaneous declines across stocks and digital assets indicate that the post-election relief rally gave way quickly to renewed risk aversion. Crypto ETFs have been linked more closely to equity sentiment in recent periods, and Thursday’s session fits that pattern, although the source data does not establish a direct causal link between the two markets beyond their timing.
It is also relevant that the Bitcoin ETF outflows had already begun before the November 5, 2026 sell-off. Withdrawals over the preceding sessions meant that the November decline was already underway before the broader market turned lower, so Thursday’s figures extended an existing trend rather than starting one.
What to Watch Next
- Daily flow data: Readers should track whether the outflow streak at BlackRock’s IBIT and other large Bitcoin funds continues or stabilizes in the coming sessions.
- Ethereum fund activity: Monitoring ETHA and ETHB will show whether BlackRock’s Ethereum products continue to account for most of the redemptions.
- Price levels: Bitcoin’s ability to recover the $80,000 area, and Ethereum’s move back above $2,400, will be useful reference points for market sentiment.
- Equity market direction: Since crypto and stocks sold off together, further moves in the Nasdaq 100 and S&P 500 may help signal whether the pressure on digital assets is easing.
Source: original report
