Investors Withdraw $869 Million from Bitcoin ETFs
On November 13, investors pulled approximately $869 million from U.S. Bitcoin ETFs. This was the second-largest single-day outflow ever, showing increased caution as Bitcoin’s price dropped below $100,000. The decline is the first since June 2025, signaling a shift in market sentiment.
BlackRock’s IBIT fund experienced the largest outflow of about $256 million. Fidelity’s FBTC lost $120 million, while Grayscale’s GBTC and BTC saw withdrawals of $64 million and $318 million, respectively. Despite these outflows, the total ETF assets remain strong at $130 billion.
Long-term net inflows continue to be positive. IBIT holds $64.25 billion cumulatively, and Fidelity’s FBTC has $11.92 billion. Smaller funds, such as Ark’s ARKB and Bitwise’s BITB, maintain steady contributions. Since January 2024, Bitcoin ETFs have attracted $59.34 billion in total, making up 6.7% of Bitcoin’s market capitalization.
Bitcoin ETF Flows Reflect Market Volatility
ETF capital flows have closely mirrored Bitcoin’s price fluctuations in 2025. Between May and July, daily inflows into Bitcoin ETFs often exceeded $1 billion, driven by strong institutional interest. ETF values rose alongside Bitcoin’s price during this period.
However, starting in late August, outflows increased sharply. By November 13, daily withdrawals neared $1 billion, causing ETF assets to fall from approximately $160 billion to $130 billion. Bitcoin’s price also declined to near $98,000.
Crypto analyst Crypto Rover highlighted that the current Bitcoin cycle is slower compared to previous cycles. His analysis indicates the market is now in a typical post-peak correction phase. At the time of this report, Bitcoin traded near $99,207, down 5.44% in the last 24 hours. Its market cap stood at $1.94 trillion, with a 24-hour trading volume of $114.38 billion, according to CoinMarketCap.
New Crypto ETFs Gain Popularity
Despite outflows from Bitcoin ETFs, new crypto ETFs are gaining attention. Canary Capital’s XRP ETF (XRPC) surpassed Bloomberg’s full-day trading volume estimate within 30 minutes, reaching $26 million against a $17 million target. Bloomberg analyst Eric Balchunas said the ETF might become the largest debut of 2025, potentially surpassing Bitwise’s Solana Staking ETF.
Swiss-based 21Shares launched two new ETFs: FTSE Crypto 10 Index ETF (TTOP.P) and FTSE Crypto 10 ex-BTC Index ETF (TXBC.P). These ETFs provide exposure to multiple cryptocurrencies. Duncan Moir from 21Shares highlighted the regulatory advantages of ’40 Act funds. He said multi-coin ETFs appeal to professionals and advisers due to uncertainty about long-term crypto winners. Despite a volatile market, Moir anticipates gradual institutional adoption.
Canary Capital also filed a proposal for the “Canary MOG ETF,” a spot ETF tracking the memecoin MOG Coin. The fund will hold MOG directly, with minimal ETH for transaction fees. This is the first U.S. effort to offer a memecoin via a regulated ETF, reflecting diversification in crypto investment products.
