United

Bitcoin ETF

Bitcoin

Drops

<ul>
 <li>Bitcoin ETFs in the U.S. are collectively underwater as BTC falls below $89,600.</li>
</ul>
<ul>
 <li>Over $254 million exited Bitcoin funds on Monday, led by BlackRock’s major outflows.</li>
</ul>
Investors in Bitcoin exchange-traded funds in the United States are now collectively underwater for the first time since these products were launched, according to market intelligence company Glassnode. Bitcoin <a href="https://www.bloomberg.com/news/articles/2025-11-18/bitcoin-etf-investors-now-in-the-red-after-89-600-level-breaks" target="_blank" rel="noopener noreferrer nofollow">plunged</a> below $89,600 on Tuesday, causing the average entry price for all spot Bitcoin ETFs to move underwater.&nbsp;
Some early adopters who purchased at prices from $40,000 to $70,000 continue to be profitable; however, the average investor finds themselves nursing unrealized losses. Long-term holders are also unlikely to panic sell at this moment, as most of these investors view this as a long-term strategic allocation and not a short-term trade.
<h3 class="wp-block-heading" id="h-heavy-withdrawals-continue-across-bitcoin-and-ethereum-funds">Heavy Withdrawals Continue Across Bitcoin and Ethereum Funds</h3>
Monday saw a wave of capital leaving cryptocurrency ETF products, with Bitcoin products <a href="https://farside.co.uk/btc/" target="_blank" rel="noopener noreferrer nofollow">losing</a> $254.6 million in a single day. BlackRock’s flagship Bitcoin product had the largest outflow at $145.6 million, while some of Fidelity’s Bitcoin offerings had outflows of $12 million. This was the fifth consecutive day of outflows for Bitcoin ETFs, which began on November 12 with outflows of $278.1 million.&nbsp;
Outflows continued to accelerate on November 13, when outflows reached $866.7 million, the second-worst inflow figures in the short 5-month history of Bitcoin ETFs. Ethereum ETFs also had negative outflows, generating a combined $182.7 million in net outflows. Of this, outflows in BlackRock’s Ethereum product accounted for $193 million.
Market analysts have stated that the downturn was due to broader macroeconomic conditions, rather than anything unique to cryptocurrency, specifically, tight liquidity and risk-on sentiment. Investors have sought out safer assets. There will be a turnaround in digital assets whenever we see clearer signs of economic easing, softer inflation numbers, and a central bank with easier monetary policy.
Notably, <a href="https://thenewscrypto.com/vaneck-advances-solana-etf-launch-with-critical-sec-filing/" target="_blank" rel="noopener noreferrer nofollow">Solana ETFs</a> have gone against their trend altogether, maintaining their flawless inflow record since they came into existence in late October. The Bitwise Solana fund added $7.3 million on Monday, while Grayscale’s product added $0.9 million. Cumulative all Solana ETFs have seen around $390 million in total inflows, and both investors find interest even with a tough market of late.
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Bitcoin ETF Investors Face Losses as Market Downturn Continues

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