Bitcoin ETFs See $2.35B Outflow Amid BlackRock's 11-Day Losing Streak
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U.S.
MissedBlock Desk · 2 min read
Bitcoin ETFs See Sustained Outflows as Redemptions Mount
U.S. spot Bitcoin exchange-traded funds (ETFs) experienced significant net outflows totaling $185.4 million on Friday, marking a continuation of a trend that has seen the funds shed billions in recent weeks. BlackRock’s iShares Bitcoin Trust (IBIT) was the largest contributor to Friday’s withdrawals, with $143.5 million leaving the fund, while Fidelity’s Wise Origin Bitcoin Fund (FBTC) saw $41.9 million in redemptions.
This latest outflow brings the total net outflows for spot Bitcoin ETFs over the past two consecutive weeks to $2.35 billion, with weekly redemptions exceeding $1 billion in each of those periods. Data from Farside Investors indicates that spot Bitcoin ETFs shed $1.07 billion between November 9 and November 13, following $1.28 billion in outflows the prior week. These figures represent the largest weekly redemptions recorded since late June.
Friday’s net outflows of $185.4 million followed substantial withdrawals on preceding days, with $284.1 million leaving the funds on Thursday and $299.8 million on Wednesday. The sustained outflows on Friday marked the seventh consecutive trading session of net withdrawals, with approximately $1.71 billion redeemed since November 5. This period of consistent outflows has coincided with broader market weakness, as Bitcoin (BTC) dipped below the $70,000 mark on the same day.
BlackRock’s IBIT has been particularly affected, with its $143.5 million in net outflows on Friday extending its streak of consecutive trading sessions with withdrawals to 11, dating back to October 30. The cumulative net outflows for IBIT during this 11-session period have now reached approximately $2.35 billion, surpassing the $2 billion mark on Wednesday.
In the most recent week, IBIT shed $908.4 million, following approximately $1.21 billion in withdrawals the previous week. Its total outflows for November have reached $2.12 billion, accounting for roughly 90% of the net withdrawals across the broader Bitcoin ETF market during the month.