Bitcoin ETFs faced renewed selling pressure this week, with $250 million in outflows and nearly $3 billion withdrawn over the past month, according to fresh data shared by Bloomberg ETF analyst Eric Balchunas. Despite the turbulence, analysts emphasize that 97.5% of ETF capital remains invested, highlighting surprising resilience amid one of the most severe sentiment drops of 2025.
Balchunas noted that while crypto markets are experiencing “extreme fear,” the overall year-to-date picture remains strong: Bitcoin ETFs have accumulated $23 billion in inflows so far this year, an extraordinary figure considering the market’s recent drawdown.
Bitcoin ETFs with $250m in outflows, $3b out in past month, about 2.5% of total assets, 97.5% hanging in there. Still $23b YTD which is amazing. People forget just how much lifting was done 18mo prior to selloff. All told not too bad considering the "extreme fear" mood. pic.twitter.com/KyrVQhGppC
— Eric Balchunas (@EricBalchunas) November 18, 2025
Where the Outflows Hit the Hardest
The bulk of the weekly redemptions came from several major issuers:
- IBIT (BlackRock): –$677.98M
- FBTC (Fidelity): –$100.97M
- GBTC (Grayscale): –$147.16M
- BTC (Invesco/Galaxy): –$289.92M
- ARKB (Ark/21Shares): –$27.99M
Only a handful of products saw slight positive flows, but overall, the category posted -$1.37 billion in weekly outflowsand –$2.95 billion over the past month.
Still, analysts view the retention rate, more than 97% of total ETF assets untouched, as a sign that both institutions and long-term investors continue to treat the downturn as cyclical rather than structural.
Meanwhile: Traditional ETFs Pour $7 Billion Per Day Into the Dip
In a separate update, Balchunas highlighted a massive divergence between crypto ETF flows and traditional markets. Broader U.S. ETFs are buying the dip aggressively, logging nearly $7 billion per day in inflows.
“This pullback is peanuts compared to the Tariff Tantrum,” Balchunas wrote, referencing a period when equities posted record inflows despite macro chaos. Major broad-market ETFs like VOO, IVV, and QQQ showed strong 1-day and 1-week inflow numbers, a sign that investors are rotating capital back into equities.
Shift From Gold to Treasuries
A notable standout was IEF (iShares 7–10 Year Treasury ETF), which saw strong inflows as investors increasingly favor treasuries:
- Previously: Equities + Gold
- Now: Equities + Treasuries
The rotation reflects shifting macro sentiment as investors rebalance portfolios around expected 2026 rate-cut timelines.
Crypto ETFs Hold Their Ground – For Now
Despite the volatility, the broader takeaway from Balchunas is that Bitcoin ETF investors are weathering the storm better than many expected. Long-term allocations have barely budged, even as Bitcoin fell below key psychological levels.
With traditional markets showing strong risk-on flows and treasury interest rising, analysts are watching for signs that crypto ETFs may stabilize once macro fear fades and rate expectations become clearer.
