U.S. Bitcoin, Ether ETFs See Largest Outflows Since Nov. 20 as BTC Declines

Why It Matters

The outflows highlight mounting pressure on crypto ETFs, potentially amplifying price declines and testing investor confidence in passive Bitcoin and Ether exposure.

Key Takeaways

• $582M outflows from BTC and ETH ETFs Monday.
• Bitcoin fell to $85,100, lowest of week.
• ETF cost basis sits near $83,000 support level.
• Fidelity FBTC led Bitcoin ETF redemptions.
• ETHA accounted for majority of Ethereum ETF withdrawals.

Pulse Analysis

The latest data from Farside shows that U.S. spot bitcoin and ether ETFs experienced a combined $582 million net outflow on Monday, the largest since November 20. Bitcoin slipped to $85,100, triggering the third‑worst Monday performance in the past year. The outflows were led by Fidelity’s Wise Origin Bitcoin Fund, which saw $230.1 million redeemed, while the iShares Ethereum Trust accounted for $139.1 million of ether withdrawals. The pattern reinforces Monday’s reputation as a pressure point for crypto prices, echoing similar dips in late 2024 and early 2025.

Investors are now watching the ETF cost‑basis metric, currently hovering around $83,000, as a potential support floor for Bitcoin. Glassnode calculates this figure by averaging the entry price of every bitcoin deposited into spot ETFs, effectively creating a moving baseline. When price breaches this cost basis, it could signal deeper weakness, whereas a bounce above it may attract fresh capital. Historical data shows Bitcoin has previously recovered from this level during the November‑21 and December‑1 corrections, suggesting a possible resilience trigger.

For fund managers, the outflow surge raises questions about liquidity management and fee structures. Large redemptions, especially from high‑profile products like FBTC and ETHA, can force ETFs to sell underlying assets, adding downward pressure on spot markets. Conversely, the absence of net flows in BlackRock’s iShares Bitcoin Trust hints at a more stable investor base, potentially positioning it as a safe‑haven within the volatile sector. As regulators continue to fine‑tune crypto‑ETF frameworks, market participants will monitor whether the current retreat is a short‑term correction or the start of a broader shift away from passive crypto exposure.