Institutional funds continue to withdraw, with nearly $800 million in net outflows for the US Bitcoin spot ETF this week.

According to monitoring data from Farside Investors, during the week ending November 1, 2025, the U.S. Bitcoin spot ETF market experienced significant capital outflows, with a total net outflow of $799 million, and all major funds showed a trend of capital outflow.
1. Main Product Capital Outflow Situation
This week's capital outflow has shown a broad scope, with major Bitcoin spot ETFs on the market being no exception. Specifically, the iShares Bitcoin Trust under industry giant BlackRock faced the largest capital outflow this week, with a net outflow of $403.4 million. Fidelity's Fidelity Wise Origin Bitcoin Fund followed closely behind, with a net outflow of $155.9 million. Other products such as Bitwise Bitcoin ETF, ARK 21Shares Bitcoin ETF, and Grayscale Bitcoin Trust also recorded net outflows of $79 million, $76.5 million, and $68.1 million, respectively. This widespread outflow situation indicates that the capital withdrawal is not targeted at a single product, but rather reflects a shift in the overall risk appetite of the market.
2. Market Background and Related Dynamics
The recent large-scale capital outflow occurred against the backdrop of multiple challenges facing the cryptocurrency market. On one hand, there has been a significant contraction in the liquidity of stablecoins. Reports indicate that during the last week of October, the global circulation of stablecoins plummeted by over $6 billion, which directly affected the overall liquidity environment of the market. On the other hand, market sentiment indicators have also turned pessimistic, with the Fear and Greed Index plummeting to 28, marking a new low for the year and indicating a lack of investor confidence. Furthermore, not only has the Bitcoin ETF faced pressure, but the Ethereum spot ETF also experienced capital outflows in a similar timeframe. For example, on October 29, there was a net outflow of $81.4 million in a single day, suggesting that the capital withdrawal may involve a broader range of crypto asset categories.
3. Possible Driving Factors Analysis
The factors leading to a significant outflow of funds this week may be multifaceted. Firstly, the recent volatility in Bitcoin prices may have prompted some investors to take profits or engage in risk control. Analyses indicate that this high-volatility environment can influence the decision-making of institutional investors. Secondly, macroeconomic expectations may have changed. Although the Federal Reserve announced a 25 basis point rate cut on October 30, Fed Chairman Powell later stated that "a rate cut in December is not a done deal," which somewhat weakened the market's expectations for sustained accommodative monetary policy and may have affected the attractiveness of risk assets. Finally, historically, the fund flows of Bitcoin ETFs often exhibit cyclicality, and it is not uncommon to see a phase of outflow after a peak in inflows.
4. Historical Comparison and Future Outlook
Observing the nearly $800 million net outflow this week within a longer time frame, its scale is indeed remarkable. For example, on March 11 this year, the Bitcoin spot ETF market experienced a single-day net outflow of $367.47 million, which had already attracted widespread attention from the market. In contrast, this week's outflow scale is larger. Nevertheless, some market participants remain optimistic in the long term. Some analysts believe that the upward trend of Bitcoin in 2025 is structurally healthier, manifested by a lower leverage ratio, clearer positions, and sustained real demand support. Therefore, the current large-scale capital outflow may be regarded as a short-term adjustment phase in a long-term bull market.#JoinCreatorCertificationProgramToEarn$10,000