Bitcoin ETF Investors in the Red as ETF Wave Launches Nearby

US spot Bitcoin ETF investors fell into the red on average yesterday as a new crypto ETF launch cycle approaches.

Bloomberg estimates show that cumulative spot ETF inflows have an average cost near $89,600, while Bitcoin briefly traded below that level yesterday before rallying back above $91,000 early Tuesday.

The move comes just as issuers finalize preparations for a new wave of crypto ETF launches, including products linked to Dogecoin, Solana and XRP.

Bitcoin Spot ETFs bleed $2.8 billion in November

The fall in BTC’s price has coincided with an acceleration in redemptions, with about $2.8 billion withdrawn from Bitcoin ETFs in cash so far in November and net outflows spanning four consecutive sessions, according to data from Bloomberg and Farside.

The largest of these outflows occurred on November 13, when a total of $866.7 million was withdrawn from investment products in a single day.

In the last trading session, BTC products saw net daily outflows of $254.6 million. The majority of these outflows were recorded by BlackRock’s IBIT, which recorded outflows of $145.6 million that day.

US Spot BTC ETF Flow (Source: Distant investors)

The market prepares for the launch of several Altcoin ETFs

The market could soon benefit from an increase in liquidity thanks to the upcoming launches of multi-spot crypto ETFs.

With the U.S. government shutdown finally over, ETF issuers are rushing to prepare for the launch of their products. In the coming days, analysts predict that ETFs for Dogecoin (DOGE), Solana (SOL), and XRP will hit the market, and four XRP ETFs could launch in the next seven days.

VanEck’s VSOL ETF has made its market debut, and Fidelity’s FSOL fund is expected debut today.

BREAK: VSOL of @vaneck_us is online, a new Solana staking ETF 🔥 pic.twitter.com/nV3wMBMXF2

– Solana (@solana) November 17, 2025

Diamond Investors Buy Supply as Bitcoin Price Falls

As institutional investors continue to withdraw funds from spot Bitcoin ETFs, long-term investors who have held on to their crypto despite wild price swings, often referred to as “diamond” investors, have been buying the dip.

According to a analysis According to on-chain intelligence firm CryptoQuant, the number of BTC purchased by permanent holder addresses increased from 159,000 BTC to 345,000 BTC since October 6. This is the highest level of accumulation seen in recent cycles.

“Long-term capital is moving in aggressively, while short-term sentiment is capitulating,” he says.

When this happens, it usually sets the stage for one of two outcomes: either a significant rally or a final leg down, depending on the analysis.

One thing that is certain, the text adds, is that one or the other outcome “tends to be resolved by force”.

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