Meme Insider
On-chain analytics powerhouse Lookonchain just dropped the latest spot ETF flow data for November 21, and it’s ugly for the bulls.
Both Bitcoin and Ethereum ETFs recorded heavy net outflows yesterday, with institutions hitting the sell button hard.
The 10 major Bitcoin spot ETFs saw a combined net outflow of 7,341 BTC (≈ $626.29M).
BlackRock’s IBIT alone dumped 4,108 BTC (≈ $350.42M) and now sits on 779,425 BTC worth $66.49 billion.
Ethereum was hit even harder.
The 9 tracked Ethereum spot ETFs bled 84,435 ETH (≈ $233.88M).
BlackRock again led the selling, offloading 43,237 ETH (≈ $119.77M), leaving them with 3,604,966 ETH valued at $9.99 billion.
Total holdings across the tracked funds still remain massive:
- Bitcoin ETFs: 1,307,968 BTC ≈ $111.58B
- Ethereum ETFs: 6,163,632 ETH ≈ $17.07B
But the direction is clear – money is flowing out, not in.
This is now the longest streak of combined BTC + ETH ETF outflows we’ve seen since the products launched. When BlackRock, the 800-pound gorilla, is the biggest seller on both products the same day, it’s rarely a coincidence.
For meme coin degens: this kind of institutional selling usually creates downside pressure on BTC and ETH dominance, which then spills over into altcoins and memes even harder. When the tide goes out on the majors, the small caps get wrecked first and worst.
We’ve been in a risk-off environment for weeks now, and these flows confirm institutions are either taking profits, rotating, or simply de-risking before the weekend.
Whether this is the final shakeout before the next leg up or the start of something uglier remains to be seen – but right now, the smart money is clearly hitting the exits.
Keep your stops tight.
