A total of $530.1 million exited US spot Bitcoin and Ether ETF products during the November 5, 2026 trading session. Daily outflows were dominated by Bitcoin ETFs, which accounted for $430.2 million of the withdrawals. Two major asset managers were the largest contributors: the Fidelity Wise Origin Bitcoin Fund (FBTC) shed $199.9 million, while the BlackRock iShares Bitcoin Trust (IBIT) recorded $105 million in outflows. Combined, the two products made up 71% of total daily Bitcoin ETF outflows.
This outflow trend has persisted for nearly a week. Data from Farside Investors shows that investors pulled a cumulative net total of around $1.51 billion from Bitcoin ETFs across five consecutive trading sessions from October 30 to November 5.
Parallel Pressure from Wall Street
The sell-off in crypto ETFs coincided with turbulence on Wall Street. The Nasdaq tumbled 5.5% and the S&P 500 slipped 4.4% amid concerns over artificial intelligence (AI) sector valuations and post-US midterm regulatory uncertainty. Equity market pressure spilled over into digital assets on November 6, when Ether dropped 8.3% to around $2,220 while Bitcoin slid 6.1% to $75,500.
Andreja Cobeljic, Head of Derivatives Trading at AMINA Bank, highlighted that Ether ETF inflows have become the most critical barometer for gauging institutional appetite. According to Cobeljic, the market currently requires a large-scale rotation of institutional capital out of traditional assets like gold and AI equities into crypto for the rally to sustain into 2027.
Hedging Signals in Derivatives Markets
Subdued activity was also evident across the Ethereum derivatives market. CryptoQuant data shows that open interest in Ethereum derivatives contracted to $11.4 billion from near $16 billion in late September 2026. At the same time, AMINA Bank noted that the basis premium between spot and futures contracts sits at low levels. This indicates that the market is currently dominated by non-directional arbitrage (basis trading) rather than speculative accumulation betting on an upward breakout.
Beneath the sell-off, options market dynamics have formed a distinct downside protection pattern. Bitcoin and Ether options skew has reportedly tilted toward put contracts to hedge against potential declines. Cobeljic views this shift toward puts as a healthy foundation for the market. Once institutional portfolio risks are hedged, asymmetric upside potential opens up further for subsequent price action.
Reported by crypto.news.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
