In November 2025, investors withdrew more than $3.48 billion from spot bitcoin-ETFs, the second largest monthly outflow since the launch of such products, SoSoValue data shows.
Capital inflows/outflows in the U.S. spot bitcoin-ETF sector by month. Source: SoSoValue.
During the first three weeks of November, outflows from bitcoin funds totaled more than $1 billion. Only in the last week of the month, they noted a minimal inflow – about $70 million.
Similar dynamics was recorded in Ethereum-ETFs. Over the month, more than $1.42 billion was withdrawn from these funds — the worst indicator in the history of the instruments’ existence.
The biggest losses occurred in the first three weeks: $507 million, $728 million and $500 million respectively. At the end of the month the situation improved — over November 24-28 the funds attracted more than $312 million.
Capital inflow/outflow in the U.S. sector of spot Ethereum-ETFs by month. Source: SoSoValue.
Note that the outflows coincided with a drop in the prices of key digital assets. Bitcoin fell in price by about 17% over the month, while Ethereum lost more than 22%. Both cryptocurrencies closed November with their worst results since 2018.


