Crypto ETF Outflows Top $530M as Markets Slide

Crypto ETF outflows from U.S. spot Bitcoin and Ethereum products totaled about $530 million on Nov. 5, reversing inflows from the previous day. The Block separately reported more than $540 million in withdrawals across major U.S. spot crypto products. The reports give different totals, and the supplied reporting does not reconcile them.

What we know about the ETF withdrawals

The Block reported on Nov. 6 that U.S. spot crypto ETFs saw more than $540 million in withdrawals on Thursday, Nov. 5. CryptoSlate reported a combined $530.1 million in net outflows from spot Bitcoin and Ethereum ETFs that day: $430.2 million from Bitcoin products and $99.9 million from Ethereum products.

Those figures are not identical. The Block’s report describes withdrawals across major crypto products, while CryptoSlate gives separate Bitcoin and Ethereum totals. The evidence provided does not explain the difference, so the figures should be treated as separately reported totals, not as directly reconciled estimates.

Farside Investors’ daily flow tables show Fidelity’s FBTC had the largest Bitcoin ETF outflow on Nov. 5, at $199.9 million. BlackRock’s IBIT saw $105 million leave. For Ethereum products, Farside recorded $75.2 million in outflows from BlackRock’s ETHA and $22 million from ETHB.

Both categories had recorded inflows on Nov. 4. Farside lists $74.6 million for Bitcoin ETFs and $53 million for Ethereum ETFs that day. The next day’s withdrawals marked a reversal between those two sessions, rather than a continuous decline across both days.

Large withdrawals had also appeared in late October. Farside lists $643.2 million in Bitcoin ETF outflows on Oct. 30, and The Block reported $155.9 million in Ethereum ETF outflows that day. The Block’s earlier report said those withdrawals followed the Oct. 29 Binance hack. That earlier episode provides context, but the evidence does not connect it to the Nov. 5 flows.

What remains unclear

The reported totals show net outflows, but the supplied evidence does not explain why holders redeemed shares or what decisions drove individual fund flows. The figures alone cannot establish whether the withdrawals reflected a change in investor outlook or other activity.

The market backdrop included a steep fall in U.S. equities. CoinDesk reported that analysts linked the Nov. 5 risk-asset selloff to concerns that the midterm result could slow AI data-center construction and deepen questions about returns on infrastructure spending. That is an explanation attributed to analysts, not evidence that the concern directly triggered ETF redemptions.

It is not yet clear from these two days of data whether the daily flows will remain negative or whether the reversal was short-lived. Further flow reports would show whether the pattern continued.

How markets and analysts reacted

Withdrawals coincided with a broad market decline

CoinDesk reported that the Nasdaq fell 5.5% on Nov. 5 and the S&P 500 fell 4.3%. The outlet described the wider risk-asset selloff in connection with concerns about midterm politics and planned AI infrastructure spending. The available evidence does not establish that those concerns caused the ETF withdrawals.

CoinDesk also reported that $1.26 billion in leveraged crypto positions were liquidated over the 24 hours through Nov. 6, including $1.12 billion in long positions. Simon-Peter Massabni, an executive at XS.com, told the outlet that asset managers were selling alternative holdings to meet margin calls and deleverage. This is Massabni’s explanation for selling pressure, not proof that it accounts for every ETF redemption.

Bitcoin was trading at $75,334 and Ethereum at $2,220.44 as of Nov. 6, 2026, at 15:13 UTC, according to the supplied CoinGecko data. Both were lower over the previous 24 hours. These figures are a snapshot, not closing prices for the day.

The Crypto Fear & Greed Index stood at 28, classified as Fear, on Nov. 6, according to Alternative.me. It is a sentiment reading for that date, not a forecast.

What the figures can and cannot show

One day’s flows are not a verdict

The reported withdrawals describe activity in U.S. spot Bitcoin and Ethereum ETFs on Nov. 5. They do not, by themselves, show whether investors have changed their longer-term views or indicate what prices will do next. The reversal from the prior day’s inflows also illustrates why a short run of daily data should be read with care.

Market context is relevant, but the evidence does not prove a single cause for the fund flows. CoinDesk reported both a sharp equity decline and substantial leveraged crypto liquidations, alongside an analyst explanation involving concerns about AI infrastructure spending. These are concurrent developments and attributed analysis; the evidence does not establish that any one of them explains all redemptions.

Further reports can establish whether flows remain negative and whether the equity-market declines and leveraged liquidations continue. Those developments would add context, but they would not make one day’s figures a reliable standalone guide to future prices.

Bottom line

CryptoSlate reported about $530.1 million in combined Nov. 5 outflows from U.S. spot Bitcoin and Ethereum ETFs. The Block reported more than $540 million in withdrawals across major crypto products. The withdrawals coincided with a sharp stock-market decline and crypto liquidations, but the available evidence does not show that any one factor caused the fund flows.

Sources

• Crypto ETFs see over half a billion dollars in outflows amid post-midterm market slide (The Block)
• Bitcoin and Ethereum ETFs lose $530 million in one day as $3 trillion Wall Street wipeout rattles crypto (cryptoslate.com)
• Bitcoin ETF Flow (US$m), Farside Investors (farside.co.uk)

This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrencies are highly volatile; always do your own research before investing.