On November 13, investors pulled about $869 million from the U.S. Bitcoin ETFs, marking a sharp change in market sentiment, according to Sosovalue. The big withdrawal, second largest in history, shows that investors are growing cautious as Bitcoin’s price falls below $100,000 for the first time since June.
BlackRock’s IBIT was the biggest and most actively traded fund, but it saw one of the largest single-day outflows at about $256 million. Fidelity’s FBTC followed a similar pattern, losing $120 million. Grayscale’s products also faced notable withdrawals, with GBTC down $64 million and BTC around $318 million.
Still, long-term net inflows remain positive for top issuers, with IBIT holding $64.25 billion cumulatively and Fidelity at $11.92 billion. Other funds, like Ark and 21Shares’ ARKB and Bitwise’s BITB, continued steady but smaller contributions.
Even with the outflow, Bitcoin ETFs have attracted a total of $59.34 billion since they launched in January 2024. The combined value of all these funds stands at $130.54 billion, about 6.7% of Bitcoin’s total market capitalization.
Sosovalue’s flow chart shows highly volatile capital movements across Bitcoin ETFs throughout 2025. Between May and July, inflows were strong, often topping $1 billion a day, showing high interest from institutions. ETF values grew while Bitcoin’s price moved alongside them.
But starting in late August, the pattern changed. By November 13, daily outflows nearly hit $1 billion, one of the biggest drops in months. As a result, ETF assets fell from around $160 billion to $130 billion, and Bitcoin’s price slid toward $98,000.
Analyst Crypto Rover pointed out that the current Bitcoin cycle is growing more slowly compared to past cycles. His chart shows that after previous lows—especially in 2015-2018 and 2018-2022—prices climbed faster. The red-shaded area marks a typical post-peak correction, a period when the market usually cools and prices pull back.
At the time of publishing, Bitcoin was trading near $99,207, down 5.44% in the past 24 hours. It has a 24 hour trading volume of $114.38 billion and its market capitalization currently stands at $1.94 trillion, as per CoinMarketCap data.
Despite Bitcoin ETFs’ pullback, new products like XRP and multi-coin ETFs are drawing attention. Canary’s XRP ETF, XRPC, exceeded Bloomberg’s full-day trading volume estimate within 30 minutes, reaching $26 million against a $17 million target. Bloomberg analyst Eric Balchunas noted that the fund could surpass Bitwise’s Solana Staking ETF as the largest debut of the year.
Swiss-based 21Shares launched the FTSE Crypto 10 Index ETF (TTOP.P) and FTSE Crypto 10 ex-BTC Index ETF (TXBC.P), offering exposure to multiple cryptocurrencies. Duncan Moir of 21Shares emphasized the regulatory benefits of ’40 Act funds and noted that multi-coin ETFs are likely favored by professionals and advisers due to uncertain long-term winners in crypto. The ETFs entered a volatile market, but Moir expects gradual adoption by institutional investors.
Meanwhile, recently Canary Capital filed a proposed “Canary MOG ETF,” a spot ETF tracking the memecoin MOG Coin. The fund will hold MOG directly, with minimal ETH for transaction fees. This is the first U.S. attempt to offer a memecoin via a regulated ETF, signaling growing diversification in crypto investment products.