Bitcoin ETF investors are in the red as ETF launch approaches.

US spot Bitcoin ETF investors were in the red on average yesterday as the launch of a new cryptocurrency ETF approaches.

Cumulative spot ETF inflows amount to about $89,600 at average cost, according to Bloomberg estimates, while Bitcoin briefly traded below that level yesterday before recovering above $91,000 early Tuesday.

The change comes as the issuer finalizes preparations for the launch of new cryptocurrency ETFs, including products related to Dogecoin, Solana, and XRP.

Spot Bitcoin ETF Loses $2.8 Billion in November

The decline in BTC prices has coincided with an acceleration of redemptions, with about $2.8 billion withdrawn from Bitcoin spot ETFs so far in November and net outflows increasing for the fourth straight session, according to data from Bloomberg and Farside.

The largest of these outflows occurred on November 13, when a total of $866.7 million was withdrawn from investment products in one day.

In the most recent trading session, the daily net outflow of BTC products was $254.6 million. Most of these outflows were posted by BlackRock’s IBIT, which recorded $145.6 million in outflows on the day.

US Spot BTC ETF Flows (Source: farside investor)

The market is preparing for the launch of several altcoin ETFs.

The market could soon see increased liquidity due to the launch of a multi-spot cryptocurrency ETF.

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

VanEck’s VSOL ETF makes its market debut and Fidelity’s FSOL fund expected I debut today.

Breaking News: VSOL @vaneck_us New Solana Staking ETF is now available 🔥 pic.twitter.com/nV3wMBMXF2

— Solana (@solana) November 17, 2025

Diamond Hand investors are buying supply as the price of Bitcoin falls.

While institutional investors continue to withdraw money from physical Bitcoin ETFs, long-term investors who have held the cryptocurrency through wild price swings, often referred to as “diamond hand” investors, have been buying the dip.

According to analyze According to on-chain intelligence company CryptoQuant, the number of BTC purchased by permanent holder addresses has surged 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 engaging aggressively, while short-term sentiment is capitulating,” he said.

When that happens, the stage is usually set for one of two outcomes: a meaningful rally or an eventual decline.

One thing is certain: both outcomes “tend to be resolved by force.”

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