Spot Bitcoin ETFs See Seventh Straight Day of Outflows

Update (Nov 14, 06:56 UTC): Spot Bitcoin ETFs recorded an additional $185.4 million in net outflows, marking the seventh consecutive session of negative flows.

US spot Bitcoin exchange-traded funds recorded $2.35 billion in net outflows over two consecutive weeks, with redemptions surpassing $1 billion each week, according to data from Farside Investors reported by Cointelegraph.

Funds shed $1.07 billion between Nov. 9 and Nov. 13, following $1.28 billion in outflows the previous week, marking the largest weekly redemptions since late June. On Friday, the products recorded $185.4 million in net outflows, down from $284.1 million on Thursday and $299.8 million on Wednesday. BlackRock’s iShares Bitcoin Trust (IBIT) accounted for $143.5 million of Friday’s withdrawals, while Fidelity’s Wise Origin Bitcoin Fund (FBTC) shed $41.9 million.

BlackRock Extends Losing Streak

Friday marked the seventh consecutive trading session of net withdrawals, bringing total redemptions to about $1.71 billion since Nov. 5. The sustained outflows coincided with broader market weakness as Bitcoin fell below $70,000 on the same day.

BlackRock’s IBIT extended its withdrawal streak to 11 consecutive trading sessions since Oct. 30, with total net outflows over the streak reaching about $2.35 billion. IBIT's November outflows reached $2.12 billion, accounting for roughly 90% of the broader Bitcoin ETF market's net withdrawals during the month.

Key facts

• US spot Bitcoin ETFs recorded $2.35 billion in net outflows over two consecutive weeks.
• Friday's net outflows totaled $185.4 million.
• BlackRock's IBIT accounted for $143.5 million of Friday's withdrawals and extended its losing streak to 11 sessions.
• Fidelity's FBTC shed $41.9 million on Friday.
• November outflows for IBIT reached $2.12 billion, representing about 90% of the broader market's monthly withdrawals.