Crypto ETFs Lose $538M as BlackRock Leads Massive Fund Exodus

Key Insights: Crypto ETFs recorded approximately $538 million in combined outflows on Nov. 2. BlackRock’s Bitcoin fund lost $405.3 million, outweighing Fidelity’s $6.7 million inflow. Ethereum ETFs shed $139.7 million despite fresh demand for Morgan Stanley’s fund. Crypto ETFs recorded approximately $538.3 million in combined net outflows on Nov. 2, led by BlackRock’s Bitcoin and Ethereum funds. Farside Investors data showed Bitcoin ETFs lost $398.6 million, while Ethereum ETFs shed $139.7 million. The withdrawals extended selling pressure from the previous trading session. The losses came despite positive flows into Fidelity’s Bitcoin fund and Morgan Stanley’s Ethereum product.