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Bitcoin and Ether ETFs saw another turbulent week as investors pulled $1.7 billion from spot funds. Yet, steady whale accumulation and rising altcoin inflows helped steady sentiment across the crypto market, keeping Bitcoin above the $100,000 mark.
Bitcoin (BTC) traded around $105,121, while Ether (ETH) stayed near $3,527 amid mounting redemptions. Between Nov. 3 and Nov. 7, spot Bitcoin ETFs recorded $1.22 billion in outflows, the third-largest weekly total on record. Ether ETFs followed with $508 million in withdrawals, bringing the combined total to $1.72 billion.
According to CryptoQuant CEO Ki Young Ju, BlackRock’s IBIT alone saw $570 million in redemptions, its highest in nine months. He said the withdrawals reflected profit-taking and tax-related rebalancing as the year-end approached.
While Bitcoin and Ether funds lost ground, Solana ETFs moved in the opposite direction. They pulled in $137 million during the same week, led by Bitwise’s BSOL ETF, which added $127 million. The shift underscored growing demand for high-performing altcoin exposure.
Data from CoinShares Research revealed a similar pattern across the broader market. Digital asset products saw their second straight week of outflows, totaling $1.17 billion. Bitcoin led with $932 million withdrawn, followed by Ether with $438 million.
The United States accounted for $1.22 billion in redemptions, while Germany and Switzerland recorded inflows of $41.3 million and $49.7 million, respectively. This divergence reflected contrasting investor sentiment between American and European markets.
Altcoins continued to draw attention. Solana (SOL), trading at $166.08, attracted $118 million in new investments, extending its nine-week inflow streak to $2.1 billion. HBAR added $26.8 million, and Hyperliquid gained $4.2 million, showing selective investor appetite beyond the top two cryptocurrencies.
Uphold’s head of research, Dr. Martin Hiesboeck, said some long-term Bitcoin holders are selling spot positions and rebuying through ETFs to gain tax advantages and flexibility. Others, he added, are shifting capital toward broader blockchain initiatives.
On-chain data from CryptoQuant confirmed this rotation. Between Oct. 24 and Nov. 7, 2025, mid-sized investors, known as “Dolphins” (holding 100–1,000 BTC), cut their holdings from 173,982.8 BTC to 81,453.5 BTC. Meanwhile, “Great Whales” (holding over 10,000 BTC) more than doubled their positions, accumulating over 36,000 BTC in the same period.
This accumulation by high-capital entities has provided support for Bitcoin above the $100,000 level. Analysts say this signals a structural shift of supply toward stronger hands, preserving Bitcoin’s long-term bullish outlook despite ongoing ETF-driven volatility.
