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U.S. spot bitcoin ETFs face major ETF outflows as bitcoin price stays flat

by ICN.live
November 9, 2025

Rami Al-Saadi

U.S. spot bitcoin ETFs are once again under pressure as investors pulled hundreds of millions of dollars from the funds while the bitcoin price sits near $100,000.

Key Points:

U.S. spot bitcoin ETFs logged $558 million in ETF outflows on Friday.
Fidelity and BlackRock led the withdrawals among the largest funds.
Solana inflows continued to rise, marking nine straight days of gains.
Bitcoin price remains stable, around $101,985.

Record Withdrawals from Major Funds

ETF outflows hit $558 million on Friday, marking the seventh day of withdrawals in the last eight trading sessions. The scale of redemptions makes it the largest single-day loss since early August.

Fidelity’s FBTC fund saw the heaviest withdrawals, totaling $256.7 million, according to SoSoValue data. The fund, which is the second-largest among U.S. spot bitcoin ETFs, lost more than any other product in dollar value. Ark & 21Shares’ ARKB came next, logging $144.2 million in ETF outflows, followed by BlackRock’s IBIT, which shed $131.4 million.

Each of these firms has seen sharp swings in investor activity in recent weeks. Thursday had offered brief relief with net inflows, but Friday’s movement erased those gains and confirmed investor hesitation around bitcoin exposure.

Bitcoin Price Stays Flat Despite Turbulence

The bitcoin price, sitting near $101,985, barely moved over the past 24 hours, dropping 0.62%. Analysts describe this as a cooling phase after a long period of strong gains. JPMorgan’s research team still expects growth, forecasting the bitcoin price could reach $170,000 within a year.

This quiet trading pattern suggests investors are taking profits after earlier gains or reallocating capital to other crypto assets. Despite outflows, long-term interest remains high among institutional holders, particularly those who entered during bitcoin’s rally earlier this year.

U.S. Spot Bitcoin ETFs Losing Steam

U.S. spot bitcoin ETFs once held enormous momentum. Now, these ETF outflows suggest a phase of caution. BlackRock’s IBIT fund, still the market leader, has seen its market share slip from 82.3% in mid-September to about 73.2%. Even so, IBIT holds around 4% of all bitcoin within its portfolio.

This slow shift may reflect portfolio diversification, with investors eyeing other crypto-based ETFs for exposure. As I see it, the market is beginning to adjust to the idea that Bitcoin ETFs are no longer the only entry point for digital assets.

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Solana Inflows Break the Trend

While bitcoin and ethereum funds saw withdrawals, Solana inflows continued for the ninth straight day. The two U.S. spot Solana ETFs, launched recently, have become bright spots in an otherwise mixed market.

Bitwise’s BSOL fund has now accumulated over $323.8 million in inflows since October 28. Grayscale’s GSOL, launched the day after, has seen only $11.9 million. BSOL’s lower fee of 0.20%, compared to GSOL’s 0.35%, may explain its popularity. Both issuers are temporarily waiving fees, likely to attract new investors in this competitive phase.

The rise in Solana inflows suggests growing confidence in alternative crypto ecosystems. Traders see Solana as a faster and cheaper blockchain network compared to Bitcoin and Ethereum, and that may be driving this investor rotation.

Fidelity and BlackRock ETFs Under Pressure

Fidelity and BlackRock continue to dominate headlines as their funds record the largest ETF outflows. For Fidelity’s FBTC, Friday’s losses were its largest on record. BlackRock’s IBIT, though leading in assets, also saw $131.4 million withdrawn.

The trend could point to institutional investors adjusting strategies before the end of the quarter. Portfolio managers often rebalance crypto allocations to lock in profits or offset risks from price stagnation.

Even so, the long-term appeal of these ETFs remains intact. They offer regulated, accessible exposure to bitcoin without the challenges of direct ownership, which still appeals to cautious investors.

Ethereum ETFs See Limited Action

Ethereum ETFs also faced small outflows of $46.6 million. Traders appear uncertain about Ethereum’s near-term prospects amid competing narratives around network upgrades and staking yields.

Analysts believe Ethereum’s stability and its role in decentralized finance could bring investors back once volatility eases. For now, however, most ETF attention seems focused on Bitcoin and Solana.

The broader message from these ETF outflows is simple. Investors are pausing, not exiting the crypto market. The combination of high prices, stable trading ranges, and fresh competition from alternative ETFs creates a short-term slowdown in fund inflows.

Market watchers expect bitcoin price momentum to pick up again if institutional demand resumes. For now, U.S. spot bitcoin ETFs reflect a maturing market that responds to both opportunity and caution in equal measure.

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Why are U.S. spot bitcoin ETFs seeing so many outflows?

U.S. spot bitcoin ETFs are experiencing heavy ETF outflows mainly because investors are locking in profits after a long rally. When the bitcoin price nears significant psychological levels, such as $100,000, institutional traders often rebalance portfolios to manage risk. This behavior is common near all-time highs, as market participants anticipate corrections or sideways trading before a new move upward. In this case, funds like Fidelity’s FBTC and BlackRock’s IBIT saw large withdrawals as part of these rotations. Another factor is competition from newer crypto ETFs, including Solana-based products, which are drawing fresh inflows. These shifts do not indicate a loss of faith in bitcoin itself but reflect tactical moves in portfolio management. Many investors expect inflows to return once bitcoin’s price stabilizes or starts trending upward again, showing that these outflows represent a pause rather than an exit.

How do ETF outflows affect the bitcoin price?

ETF outflows can influence the bitcoin price indirectly. When investors withdraw money from bitcoin ETFs, the fund may sell underlying bitcoin to meet redemptions. That can slightly pressure the market, especially when the outflows are large. However, the total impact often depends on market liquidity and trading volume at that time. In Friday’s case, despite $558 million in ETF outflows, bitcoin’s price remained stable around $101,985. This shows that there was enough buying support to absorb sales. Long-term holders and institutional investors often use these dips as opportunities to increase positions. ETF activity, therefore, works as a short-term sentiment gauge, not a direct price driver. Sustained outflows over several weeks could lead to price weakness, but single-day movements rarely cause major disruption. Bitcoin’s decentralized trading structure across global exchanges limits the impact of ETF outflows on its broader valuation.

Why are Solana ETFs seeing inflows while Bitcoin ETFs are losing funds?

Solana ETFs are attracting inflows because investors are seeking new opportunities outside the dominant Bitcoin and Ethereum markets. Solana’s growing network speed, low transaction fees, and developer activity make it appealing for traders who want exposure to a different blockchain ecosystem. The recent launch of Bitwise’s BSOL and Grayscale’s GSOL funds also created early demand from institutions looking to diversify crypto holdings. These Solana inflows, totaling more than $323 million since launch, suggest a gradual shift toward multi-chain investment strategies. Investors often rotate capital from larger assets like Bitcoin into emerging ecosystems when they sense better short-term growth potential. Additionally, Solana ETFs charge lower fees and are temporarily waiving management costs, making them attractive for cost-conscious traders. This trend may continue if Solana’s network performance remains strong and market sentiment favors alternative digital assets over more mature ones like Bitcoin.

Are U.S. spot bitcoin ETFs still a good investment option?

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