Bitcoin ETF Flows Stay Red: $116M Out on Election Day

The short version

Bitcoin ETF flows stayed red on November 3 with a net $115.6 million out, as BlackRock’s IBIT lost $95.0 million and Grayscale’s mini fund $52.6 million while Bitwise’s BITB took in $21.9 million.
It is the third red session in a row and $1.16 billion out since Friday, but the daily outflow shrank from $643.2 million to $115.6 million; Ethereum ETFs lost $85.3 million, their seventh red day.
Next: Wednesday’s flows, the first set after the midterm results, land after the US close; we’ll post them on Base Camp on X as soon as they’re out.

Bitcoin ETF flows stayed red on Tuesday, November 3, but the selling slowed. US spot Bitcoin ETFs lost a net $115.6 million on midterms day, after $643.2 million on Friday and $398.6 million on Monday. BlackRock’s IBIT lost $95.0 million, down from $405.3 million a day earlier.

That is three red sessions in a row and $1.16 billion out since Friday. Ethereum ETFs lost another $85.3 million, and BTC trades at $77,008 at the time of writing. Tuesday’s numbers were set before a single poll closed, so is the selling running out, or just waiting for the results?

Farside’s Tuesday update has every fund’s number for the last three weeks:

Who Sold and Who Bought on Tuesday?

Two funds did the selling. IBIT lost $95.0 million and Grayscale’s Bitcoin Mini Trust (BTC) $52.6 million, its biggest day out in the three weeks Farside’s table covers. Three funds bought: Bitwise’s BITB took in $21.9 million, its best day in that window, Fidelity’s FBTC $6.8 million and Morgan Stanley’s MSBT $3.3 million. The other seven funds reported zero.

Over Friday, Monday and Tuesday, IBIT outflows add up to $734.0 million, far more than the $410.6 million it took in during last week’s dip buying. Bitcoin ETF outflows are shrinking fast, though: IBIT’s on Tuesday was less than a quarter of Monday’s.

Bitcoin ETF flows over four days: +$17.2M Oct 29, -$643.2M Oct 30, -$398.6M Nov 2 and -$115.6M Nov 3, with IBIT -$95.0M and Ethereum ETFs -$85.3M on Tuesday — Spot Bitcoin and Ethereum ETF flows Farside Investors

Bitcoin ETF Flows Were Set Before the First Polls Closed

The US stock market closed at 21:00 UTC (4:00 p.m. in New York), two hours before the first polls shut at 23:00 UTC. So Tuesday’s Bitcoin ETF flows say nothing about the result. Overnight, the networks projected the House for Democrats and prediction markets put Democratic control of the Senate at 99%. BTC fell 2.8% to $75,736 as the results came in, then won back more than half of the drop.

Wednesday’s flows are the first ones to show how ETF buyers read a Democratic Congress. November is $514.2 million in the red after two sessions, close to all of October’s $515.9 million loss.

SIDE TRAIL: Midterm Election Results: Democrats Sweep Congress, Bitcoin Dips First

Ethereum ETF Outflows: Seventh Red Day

Ethereum ETF outflows reached $85.3 million on Tuesday, per Farside. BlackRock’s ETHA lost $74.4 million and Grayscale’s Ethereum Mini Trust $10.9 million; the other nine funds were flat.

That makes seven red sessions in a row and $656.4 million out since October 26, after a $1.61 billion October. November is already $225.0 million down. ETH trades at $2,267, down 17% in 30 days and still about 5% above its 200-day moving average at $2,157.

Bitcoin Price: Back Above Support After the Election Dip

Bitcoin ETF flows and the BTCUSDT daily chart: BTC back above support at $76,264 after an election-night dip to $75,736, under the 50-day MA at $81,999 — BTCUSDT Chart 1D Binance

The BTC price closed Tuesday at $77,454, up from Monday’s $76,816, its lowest close since September 17. The election-night drop to $75,736 dipped under support at $76,264 for a few hours, and buyers pushed it back above. Below that sits the September 15 low at $74,968, then the 200-day moving average at $73,215. The 50-day is up at $81,999. Fear & Greed reads 34, in fear.

TRAIL MAP: Ethereum ETF Outflows Hit $1.61B in October, Their Worst Month of 2026

The outflows went from $643 million to $399 million to $116 million in three sessions. Whether Wednesday turns green decides if that was the end of the selling or a pause before the vote count.

Written by

TANG

TANG has been trading crypto since 2017. The focus is technicals, DeFi and onchain data. On the chart, that means high-timeframe support, moving averages and momentum divergences. Onchain, it means regular checkups on where the data puts the cycle. TANG once ran CryptoJungle, a free community for researching and trading together, and brings that same spirit to Base Camp as one of its co-founders.