In November 2025, American spot funds based on Ethereum experienced the largest monthly capital outflow in history — over $1.42 billion. A similar record was also noted among spot Bitcoin ETFs, from which investors withdrew over $3.48 billion during this period, marking the second-largest outflow since the launch of these financial instruments.
This is reported by Finway
Outflow Dynamics: Bitcoin and Ethereum
According to SoSoValue, during the first three weeks of November 2025, over $1 billion was withdrawn from Bitcoin ETFs. Only at the end of the month was there a slight inflow — around $70 million. A similar trend was observed for Ethereum ETFs, where investors withdrew $507 million, $728 million, and $500 million respectively over three weeks. However, from November 24 to 28, the situation improved somewhat, with the funds attracting over $312 million in new investments.
“The outflow from Ethereum ETFs reached $1.42 billion — an absolute record.”
Connection to Cryptocurrency Market Dynamics
The massive capital withdrawal from the largest crypto funds directly correlated with a sharp decline in the prices of major digital assets. Throughout November, Bitcoin decreased by approximately 17%, while Ethereum lost over 22%. In both cases, these were the worst monthly results since 2018.
The sharp decline in investor interest in Bitcoin and Ethereum-based products indicates increased volatility and caution among market participants amid the falling prices of key cryptocurrencies. Record outflows may signal the need for a more thorough analysis of trends in the crypto asset sector in the coming months.