Spot Bitcoin ETFs See $400.6 Million in Outflows, Ending Six-Day Inflow Streak

On November 14, spot Bitcoin exchange-traded funds (ETFs) in the United States experienced a significant setback, with a net outflow of $400.67 million. This marked the end of a six-day inflow streak that had seen more than $4.73 billion flow into these funds.

Data from SoSoValue revealed that the 12 Bitcoin ETFs tracked recorded a broad retreat in capital. The largest contributor to the outflows was Fidelity’s FBTC, which saw $179.16 million exit the fund, its highest outflow since May 1, when it had experienced $191.1 million in outflows.

Other major funds, such as ARK and 21Shares’ ARKB, followed suit, losing $161.72 million in outflows. Bitwise’s BITB also saw significant redemptions, with $113.94 million exiting, marking its largest outflow since its launch. Grayscale’s GBTC and Mini Bitcoin Trust recorded outflows of $69.59 million and $5.28 million, respectively.

Despite the overall negative trend in Bitcoin ETFs, BlackRock’s IBIT bucked the trend with a net inflow of $1.236 billion, extending its own six-day inflow streak to more than $3.2 billion. According to Bloomberg analyst Eric Balchunas, IBIT has amassed over $40 billion in assets under management (AUM) in just 211 days since its launch. This rapid growth places IBIT among the top 1% of all ETFs by AUM, surpassing iShares Gold Trust, which manages around $33.41 billion in assets.

Meanwhile, VanEck’s HODL ETF saw modest inflows of $2.5 million, while the other Bitcoin ETFs saw little to no activity on the day. Total trading volume for the 12 BTC ETFs reached $4.82 billion, a decline from the previous day’s record-breaking $8.07 billion.

The outflows in Bitcoin ETFs coincided with a drop in Bitcoin’s price, which fell below $87,000. This drop followed comments from Federal Reserve Chair Jerome Powell, who indicated there was no immediate need for interest rate cuts. Bitcoin’s decline left it about $6,500 shy of its record high of $93,477, which it had reached just a day earlier, on November 13.

Ether ETFs Face $3.24 Million in Outflows

On the same day, spot Ether ETFs also experienced outflows, totaling $3.24 million, ending their own six-day inflow streak. Grayscale’s ETHE bore the brunt of the outflows, with $21.9 million exiting the fund, while VanEck’s ETHV saw $1.14 million in outflows.

However, BlackRock’s ETHA and VanEck’s QETH helped to partially offset the overall losses. ETHA saw inflows of $18.87 million, while QETH recorded $929,000 in positive flows.

Overall, the nine Ether ETFs recorded a combined net inflow of $238.27 million for the day.

At the time of writing, Ethereum (ETH) was down 6.2% on the day, trading at $3,067, while Bitcoin (BTC) had fallen 2.8%, exchanging hands at $87,971 per coin.