Bitcoin ETFs lose $2.35B as IBIT streak reaches 11 sessions

U.S. spot Bitcoin exchange-traded funds recorded $2.35 billion in net outflows over the two weeks through Nov. 13, with redemptions exceeding $1 billion in each week. BlackRock’s iShares Bitcoin Trust (IBIT) posted withdrawals for 11 consecutive trading sessions.

The funds recorded $1.07 billion in net outflows in the week ended Nov. 13, following $1.28 billion in outflows the previous week. The $1.07 billion weekly total was the largest since late June, according to Farside Investors data.

Spot Bitcoin ETFs recorded $185.4 million in net outflows on Friday, down from $284.1 million on Thursday and $299.8 million on Wednesday. IBIT accounted for $143.5 million of Friday’s outflows, while Fidelity’s Wise Origin Bitcoin Fund (FBTC) recorded $41.9 million in withdrawals.

Friday was the seventh consecutive trading session with net outflows across the funds. About $1.71 billion was redeemed between Nov. 5 and Nov. 13. Bitcoin fell below $70,000 on Friday.

IBIT’s $143.5 million in Friday outflows extended its withdrawal streak from Oct. 30 to 11 trading sessions. The fund recorded about $2.35 billion in net outflows during that period, including $2.12 billion in November. That represented about 90% of the spot Bitcoin ETF market’s net outflows for the month.

Reviewed and fact-checked by Alex Panasenko on November 14.