by Coinstrooper Crypto Articles
Quick Take
  • Meanwhile, per SoSoValue data, Ethereum spot ETFs recorded another $262 million in outflows, logging eight consecutive days of net outflows.
  • BlackRock’s iShares Bitcoin Trust (IBIT) bled $355.50 million as of 20 November, still leading the exodus.
  • It was followed by Grayscale’s GBTC fund, marking a net outflow of $199.35 million on Thursday alone.
  • spot bitcoin ETFs bled nearly $3 billion in net outflows in November as the market faces a fresh technical breakdown.

What Happened

According to crypto exchange Luno’s insights, ETF outflows point to “risk-off positioning”, with large investors locking in profits ahead of year-end.

“Institutional investors are leading the charge, with ETF outflows signalling profit-taking and risk-off positioning,” Rachael Lucas, crypto analyst at BTC Markets, told The Block.

Przemysław Kral, CEO of European crypto exchange zondacrypto, told Cryptonews that long-term investors now have a chance to accumulate tokens at lower rates, while short-term traders might face challenges in timing a recovery.

Market Context

Data show that U.S. spot bitcoin ETFs bled nearly $3 billion in net outflows in November as the market faces a fresh technical breakdown.

Bitcoin fell more than 9% in 24 hours, stemming from a trifecta of institutional exits, miner economics, and technical triggers. The largest crypto is currently trading at $83,884 at the time of writing.

“But it is important to note that large Bitcoin holders are still buying. This is a sign of underlying strength and confidence in the project, even though the price is falling,” Kral added. “For some, this could be a chance to enter the market at a lower price than we’ve seen recently. Therefore, it is important to recognise the risks. Volatility is high, and the macro environment can change quickly.”

The post U.S. Bitcoin ETFs Log $903M in Outflows, Ethereum ETFs Bleed Another $262M amid Market Bloodbath appeared first on Cryptonews.

Why It Matters

Massive ETF Outflows Signal Profit-Taking?

Details

US Bitcoin spot exchange-traded funds (ETFs) witnessed a total net outflow of $903 million on November 20, marking the second-largest outflows since the fund’s inception in January 2024.

Meanwhile, per SoSoValue data, Ethereum spot ETFs recorded another $262 million in outflows, logging eight consecutive days of net outflows.

BlackRock’s iShares Bitcoin Trust (IBIT) bled $355.50 million as of 20 November, still leading the exodus. It was followed by Grayscale’s GBTC fund, marking a net outflow of $199.35 million on Thursday alone.

Alternatively, Solana ETFs and XRP ETFs saw $23,66 million and $118,15 million in net inflows, respectively, on Thursday.

“Significant outflows from Bitcoin ETFs indicate that institutional players are taking profits off the table.”

Bitcoin Plunges Over 9% – Further Decline Imminent?

Przemysław Kral told Cryptonews that there is potential for BTC to decrease further.