Citi Sells Clients on Bitcoin ETFs Despite $1 Billion Outflows

Dextape brief

By Dextape Desk · November 3, 2026

Citi is marketing spot Bitcoin and Ethereum ETFs to wealth clients, even as US Bitcoin funds see heavy redemptions. A Citi Wealth report says suitable investors may want these products beside stocks and bonds, while also listing risks. On November 2, US spot Bitcoin ETFs saw $398.62 million leave, according to SoSoValue, after $643 million left on October 30. Ethereum funds shed $139.80 million that day. Per the article, that Bitcoin outflow amounts to roughly 0.4% of the $98.12 billion these funds hold. Citi said in August its Custody+ platform will hold Bitcoin for institutions later this year, with no date set. Analyst Matthew Sigel suggested the Binance hack could be a reason for the silence, though Citi has not confirmed it.

Why it matters: It shows a major bank still promoting crypto ETFs to clients while fund outflows continue, which bears on how institutions are approaching the asset class.

Mentioned: Bitcoin, Ethereum, Binance

Summary by Dextape, based on reporting by BeInCrypto. Written with AI from the publisher’s text and checked automatically for copied wording and unsupported figures. Not investment advice.