US spot Bitcoin ETFs faced significant net outflows this week, totaling $2.35 billion over two weeks. The latest data from Farside Investors shows that $185.4 million was withdrawn on Friday alone, with BlackRock’s iShares Bitcoin Trust (IBIT) accounting for $143.5 million of that amount. Fidelity’s Wise Origin Bitcoin Fund (FBTC) saw $41.9 million in outflows.
The outflows marked the seventh straight trading session of net withdrawals, with about $1.71 billion redeemed since November 5. This trend coincided with broader market weakness, as Bitcoin (BTC) dropped below $70,000 on Friday. The sustained outflows also extended BlackRock’s IBIT losing streak to 11 consecutive trading sessions since October 30, with total net outflows during this period reaching approximately $2.35 billion.
IBIT’s November outflows alone hit $2.12 billion, making up roughly 90% of the spot Bitcoin ETF market’s net withdrawals for the month. The data highlights a challenging period for Bitcoin ETFs, reflecting broader market volatility and investor caution.