Key Takeaways
- • Bitcoin ETFs lost $430.20 million on November 5, their largest single-day outflow of the month, as BTC fell 6.0% to $75,360.83, according to SoSoValue data.
- • Ethereum ETFs shed $99.97 million as ETH dropped 8.1% to $2,222.28, while XRP ETFs recorded zero net flow for a third consecutive day.
- • Solana ETFs posted their first outflow of November at $1.18 million, as SOL slipped 6.6% to $89.35.
- • The crypto sell-off followed a broader equity decline, with the Nasdaq 100 posting its largest daily drop since the 2020 pandemic and the S&P 500 erasing roughly $3 trillion in value, per The Kobeissi Letter.
- • Global crypto market capitalization fell 5.2% in 24 hours to $2.64 trillion, according to CoinGecko.
Summary
Bitcoin, Ethereum and Solana spot ETFs recorded net outflows on November 5, and the selling carried into coin prices. According to SoSoValue, Bitcoin ETFs lost $430.20 million, the largest single-day outflow of the month. Fidelity accounted for $199.87 million of the exit, BlackRock for $104.97 million and Grayscale for $49.90 million. Cumulative net inflows into Bitcoin ETFs remain at $56.11 billion, with total net assets of $96.65 billion, equal to 6.31% of Bitcoin's valuation. Bitcoin traded at $75,360.83, down 6.0% over 24 hours.
Ethereum ETFs lost $99.97 million, the second-largest outflow of the month, led by BlackRock with $75.20 million and Fidelity with $2.24 million. Cumulative net inflows stand at $12.02 billion, and total net assets are $13.04 billion, or 4.74% of Ethereum's valuation. ETH fell 8.1% to $2,222.28.
Solana ETFs recorded their first outflow of November at $1.18 million, with Grayscale accounting for $815.14 thousand and Invesco for $360.94 thousand. Cumulative net inflows remain at $1.47 billion, with net assets of $1.33 billion. SOL declined 6.6% to $89.35. XRP ETFs recorded zero net flow for a third straight day, with cumulative net inflows of $1.81 billion and net assets of $1.41 billion, while XRP fell 8.3% to $1.20.
Publisher reporting links the sell-off to equity markets. The Kobeissi Letter, cited in the article, said the Nasdaq 100 posted its largest daily drop since the 2020 pandemic and the S&P 500 erased $3 trillion in value on November 5, following a sharp reversal the prior day when the Dow rose more than 1,600 points after Democrats swept the US midterm elections. CoinGecko data shows the global crypto market cap at $2.64 trillion, with Bitcoin dominance at 57.5%.
On-chain activity added to near-term caution. Arkham Intelligence reported that miner MARA Holdings moved 1,650 BTC, worth $132.8 million, to Galaxy Digital, Copper and other platforms over 12 hours. Lookonchain flagged a wallet tagged CryptoBilis Ledger Drainer depositing 885 ETH, worth $2.14 million, into Tornado Cash. Separately, the XRP Ledger's official account said version 3.3.0 cut node memory use by up to 23%, and Samsung added USDC support on the Solana network to Samsung Wallet for eligible US Galaxy users.
Ethereum ETFs lost $99.97 million, the second-largest outflow of the month, led by BlackRock with $75.20 million and Fidelity with $2.24 million. Cumulative net inflows stand at $12.02 billion, and total net assets are $13.04 billion, or 4.74% of Ethereum's valuation. ETH fell 8.1% to $2,222.28.
Solana ETFs recorded their first outflow of November at $1.18 million, with Grayscale accounting for $815.14 thousand and Invesco for $360.94 thousand. Cumulative net inflows remain at $1.47 billion, with net assets of $1.33 billion. SOL declined 6.6% to $89.35. XRP ETFs recorded zero net flow for a third straight day, with cumulative net inflows of $1.81 billion and net assets of $1.41 billion, while XRP fell 8.3% to $1.20.
Publisher reporting links the sell-off to equity markets. The Kobeissi Letter, cited in the article, said the Nasdaq 100 posted its largest daily drop since the 2020 pandemic and the S&P 500 erased $3 trillion in value on November 5, following a sharp reversal the prior day when the Dow rose more than 1,600 points after Democrats swept the US midterm elections. CoinGecko data shows the global crypto market cap at $2.64 trillion, with Bitcoin dominance at 57.5%.
On-chain activity added to near-term caution. Arkham Intelligence reported that miner MARA Holdings moved 1,650 BTC, worth $132.8 million, to Galaxy Digital, Copper and other platforms over 12 hours. Lookonchain flagged a wallet tagged CryptoBilis Ledger Drainer depositing 885 ETH, worth $2.14 million, into Tornado Cash. Separately, the XRP Ledger's official account said version 3.3.0 cut node memory use by up to 23%, and Samsung added USDC support on the Solana network to Samsung Wallet for eligible US Galaxy users.
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