Gate Institutional Weekly: ETF Outflows Intensify, On-Chain Liquidity Divergence Persists (November 2–8, 2026)

Over the past week, global risk appetite remained under pressure amid the U.S. midterm elections, a valuation correction in technology stocks, and stronger-than-expected employment data. BTC and ETH fell 3.28% and 1.50%, respectively. Spot BTC and ETH ETFs recorded net outflows of $1.282 billion and $365 million, respectively, reflecting more cautious institutional positioning. Gate TradFi weekly trading volume rose to approximately $13 billion, up 13% week-over-week. On-chain, trading volumes across major DEXs declined, while stablecoin supply contracted for the third consecutive week. However, Aave borrowing balances recovered 1.8%, indicating some easing in funding pressures. In derivatives, BTC cross-exchange futures OI fell 3.61%, while options OI increased 10.80%. Skew remained negative across all maturities, indicating simultaneous deleveraging and continued demand for downside protection.

Last Week’s Market Highlights:

• Market Overview: The S&P 500, Nasdaq, and Dow Jones fell 2.68%, 3.37%, and 0.94%, respectively, while gold gained approximately 5%.

• ETF Flows: Spot BTC and ETH ETFs recorded net outflows of $1.282 billion and $365 million, respectively, reflecting more cautious institutional positioning.

• Gate TradFi: Weekly trading volume reached approximately $13 billion, up 13% week-over-week. ETFs accounted for a higher share of stock trading, rising to 25%.

• On-Chain: Trading volumes across major DEXs declined, stablecoin supply fell 1.73% week-over-week, and Aave borrowing balances increased 1.8%.

• Derivatives: BTC cross-exchange futures OI declined 3.61% week-over-week, while options OI rose 10.80%. Skew remained negative across all maturities, and DVOL increased 1.76% over the week.

Discover more details today → Gate Institutional Weekly: ETF Outflows Intensify, On-Chain Liquidity Divergence Persists (November 2–8, 2026)

Gate Research is a comprehensive blockchain and cryptocurrency research platform that provides deep content for readers, including technical analysis, market insights, industry research, trend forecasting, and macroeconomic policy analysis.

Disclaimer

Investing in cryptocurrency markets involves high risk. Users are advised to conduct their own research and fully understand the nature of the assets and products before making any investment decisions. Gate is not responsible for any losses or damages arising from such decisions.

Gate Team
November 11, 2026

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