Spot Bitcoin ETF demand stalled during the week of Nov. 10, 2025 despite growing optimism about an end to the shutdown in Washington. Net flows were minimal at $1,2 M on Nov. 10, following a six-day streak of outflows totaling $2,9 B through Nov. 7, affecting institutional managers, treasuries and traders focused on liquidity and market risk.
The divergence between macro optimism and crypto fund flows underscores a cautious market tone. While traditional indices and gold rebounded on legislative advances, Bitcoin ETFs barely saw new capital, signaling selective risk appetite and fragile momentum.
Flows remained muted even as broader markets stabilized. According to Farside Investors, inflows on Nov. 10 were only $1,2 M. According to The Currency Analytics, on Nov. 7 Bitcoin funds recovered $240 M, ending six consecutive days of redemptions that totaled $2,9 B. This flow volatility coincides with price moves: in the first week of October Bitcoin rose from $114.000 to $126.000, then retraced toward $100.000, an approximate 11% decline since the start of the shutdown, according to the cited records.
Context and impact on Bitcoin ETF demand
Behavior is heterogeneous across issuers, with demand concentrating in larger, trusted vehicles. BlackRock iShares Bitcoin Trust (IBIT) continued to attract capital: on Nov. 6 it recorded $112,44 M in daily inflows and, according to cited data, it accumulates $64,45 B in net flows since its launch. “Bitcoin ETFs saw NO bid yesterday,” noted Charles Edwards of Capriole Investments, while Bitfinex analysts described a mid-cycle consolidation with selling pressure capping breakouts above key resistances.
The large outflows ($2,9 B in six days) suggest reduced market depth to absorb sales, which can increase price volatility and widen short-term trading ranges. While consolidated vehicles like IBIT attract most of the capital, widening asymmetries among issuers and reinforcing scale advantages in liquidity and spreads.
The Senate advanced a bill to end the shutdown on Nov. 10, 2025; the next relevant indicator will be the daily evolution of flows toward spot ETFs in subsequent sessions and any pending SEC/CFTC decisions that might have been paused by the shutdown. Related: Bitcoin ETF demand stalls as US shutdown optimism fails to lift sentiment.
