US spot Bitcoin exchange-traded funds (ETFs) recorded $2.35 billion in net outflows over two consecutive weeks, as investor withdrawals continued amid weakness in the cryptocurrency market.
According to Farside Investors data, Bitcoin ETFs lost $1.07 billion during the week ended November 13, following $1.28 billion in outflows the previous week. Friday alone saw net withdrawals of $185.4 million, including $143.5 million from BlackRock’s iShares Bitcoin Trust (IBIT) and $41.9 million from Fidelity’s Wise Origin Bitcoin Fund (FBTC).
Friday marked the seventh consecutive trading session of net outflows across US spot Bitcoin ETFs, bringing total withdrawals since November 5 to approximately $1.71 billion. The continued redemptions coincided with Bitcoin falling below the $70,000 mark.
BlackRock’s IBIT extended its withdrawal streak to 11 consecutive trading sessions since October 30. The fund recorded approximately $2.35 billion in cumulative outflows during this period, with November withdrawals reaching $2.12 billion.
IBIT accounted for around 90% of total net withdrawals from the spot Bitcoin ETF market in November, highlighting the scale of investor redemptions from the largest fund in the sector.
