US spot Bitcoin ETFs faced significant outflows this week, totaling $2.35 billion over two weeks. The latest data shows $185.4 million in net outflows on Friday, with BlackRock’s IBIT leading the withdrawals at $143.5 million and Fidelity’s FBTC shedding $41.9 million. This marks the seventh straight day of net outflows, with $1.71 billion redeemed since November 5.
BlackRock’s iShares Bitcoin Trust (IBIT) extended its losing streak to 11 consecutive trading sessions, with $143.5 million in net outflows on Friday alone. The total net outflows over this period reached about $2.35 billion, surpassing the $2 billion mark on Wednesday. IBIT’s November outflows hit $2.12 billion, accounting for roughly 90% of the broader Bitcoin ETF market’s net withdrawals during the month.
The sustained outflows coincided with broader market weakness, as Bitcoin (BTC) fell below $70,000 on Friday. The funds recorded $1.07 billion in net outflows between November 9 and November 13, following $1.28 billion in outflows the previous week, the largest weekly redemptions since late June.