Bitcoin ETFs Shed $1.44 Billion as November Withdrawals Accelerate

What happened: U.S. spot Bitcoin ETFs registered $1.44 billion in net outflows across five consecutive trading sessions from November 5 through November 11, including $299.9 million on the final Wednesday, according to SoSoValue figures cited by Decrypt. November withdrawals had reached $1.88 billion, compared with $520 million during all of October, while aggregate fund assets stood at $93.7 billion against a $169.5 billion peak in October 2025. The reporting also placed the average ETF holder's cost basis near $81,000 and identified a $14.2 billion contraction in stablecoin supply over 30 days.

Why it matters: The combination of ETF withdrawals and contracting stablecoin supply suggests pressure across separate measures of crypto demand, although neither figure alone identifies investors' motives or predicts the next market move. HashKey researcher Tim Sun characterized the ETF selling as institutional risk reduction rather than evidence that Bitcoin's long-term investment case had reversed, and the accompanying technology-stock selloff supports considering broader market conditions. Fund assets also should not be read as a pure flow measure: falling Bitcoin prices can reduce their dollar value, so the decline from peak assets cannot all be attributed to investor redemptions.

Source: Decrypt.