Crypto ETFs dumped $530M in a day as $3T Wall Street rout spooks investors

The relief rally died fast. US spot Bitcoin and Ethereum ETFs bled $530 million in combined withdrawals Thursday, according to Farside Investors data cited by CryptoSlate, torching the gains they'd just banked a day earlier. Bitcoin funds accounted for $430.23 million of the damage, with their Ethereum cousins coughing up another $99.98 million.

BlackRock's iShares Bitcoin Trust took $105 million out the door — its fifth straight session in the red. Investors have yanked roughly $1.04 billion from that fund over the stretch, including a $405.3 million exit on Nov. 2. Across every US spot Bitcoin ETF, cumulative net withdrawals hit about $1.51 billion over the five sessions since Oct. 30.

Fidelity's FBTC absorbed the single biggest hit, losing $199.87 million just one day after pulling in $236.7 million and briefly leading an industry bounce. Grayscale's GBTC shed another $49.9 million, while Franklin Templeton's EZBC and VanEck's HODL gave up $32.92 million and $23.64 million. Not a single one of the 12 Bitcoin funds logged positive net flows Thursday, and November net outflows for the category now sit at $869.8 million.

On the Ethereum side, BlackRock did almost all the bleeding. Its flagship ETHA fund lost $75.2 million and its staked ETHB product dropped another $22 million, with Fidelity's FETH shedding $2.24 million. Ethereum ETFs have now leaked roughly $272 million this month.

The coins followed the money down. Bitcoin slid 6.03% over 24 hours, landing at $75,581.52 and surrendering the trip above $80,000 it had taken after Democrats swept Congress. Ethereum retreated to $2,237, well off the $2,400-plus it touched during the recovery.

The reversal tracked a brutal day on Wall Street. President Donald Trump called it one of the stock market's “worst days in history,” and according to The Kobeissi Letter, the Nasdaq 100 notched its steepest daily decline since the 2020 pandemic while the S&P 500 lost $3 trillion in value. The trigger: worries that Democratic control of Congress could bring restrictions on artificial intelligence infrastructure buildouts.