ETF cash flow $BTC and $ETH in the first 2 months of Q4/2025 fluctuated strongly, when October attracted capital significantly thanks to #BlackRock but in November there was a deep net withdrawal across the market.
A. Total net ETF BTC
🔸 October: $3,424.9, notable
IBTC (BlackRock): $3,931.20
FBTC (Fidelity): $163.8
GBTC (Grayscale): -$732.0
BTC (Grayscale): $20.7
🔸 November: -$3,466.7, notable
IBTC (BlackRock): -$2,336.1
FBTC (Fidelity): -$412.7
GBTC (Grayscale): -$333.1
BTC (Grayscale): $14.7
B. Total net ETF ETH
🔸 October: $570.1, highlighted
ETHA (BlackRock): $727.7
FETH (Fidelity): -$27.8
ETHE (Grayscale): -$174.1
ETH (Grayscale): $66.3
🔸 November: -$1,423.6, highlighted
ETHA (BlackRock): -$1,020.2
FETH (Fidelity): -$98.8
ETHE (Grayscale): -$206.9
ETH (Grayscale): -$91.0
Highlights in GBTC and ETHE of #Grayscale were liquidated with relatively large volume in October, before the funds officially liquidated in November 😄
