US spot Bitcoin exchange-traded funds recorded USD 299.8 million in net withdrawals on November 11, according to Farside Investors. BlackRock's IBIT accounted for USD 269.7 million of those outflows.
Meanwhile, US spot Ethereum ETFs lost USD 144.8 million during the same session. BlackRock's ETHA recorded USD 129.8 million in withdrawals as institutional investment products continued losing funds.
Selling also accelerated in leveraged markets. CoinGlass reported more than USD 900 million in Bitcoin liquidations over a rolling 24-hour period, with long positions accounting for most losses.
The market decline coincided with Nvidia CEO Jensen Huang's November 12 resignation and concerns about further US interest rate increases. Higher borrowing costs can reduce demand for cryptocurrencies and other risk-sensitive investments.
