US spot Bitcoin exchange-traded funds recorded $2.35 billion in net outflows over two consecutive weeks, as redemptions exceeded $1 billion each week, according to data from Farside Investors.
Between November 9 and November 13, spot Bitcoin ETFs shed $1.07 billion in net outflows, following $1.28 billion in redemptions the previous week. The latest figures mark the largest weekly redemptions since late June.
On Friday, November 14, Bitcoin ETFs recorded $185.4 million in net outflows. BlackRock's iShares Bitcoin Trust (IBIT) accounted for $143.5 million of the day's withdrawals, while Fidelity's Wise Origin Bitcoin Fund (FBTC) shed $41.9 million.
BlackRock's Extended Losing Streak
BlackRock's IBIT extended its consecutive trading sessions of net withdrawals to 11, beginning October 30. The fund's total net outflows over this 11-session streak reached approximately $2.35 billion.
During the most recent week, IBIT shed $908.4 million, following approximately $1.21 billion in withdrawals the previous week. Since the start of November, IBIT's outflows reached $2.12 billion, representing roughly 90 percent of the broader Bitcoin ETF market's net withdrawals during the month.
Market Context
The sustained outflows coincided with broader market weakness. Bitcoin fell below $70,000 on Friday, the same day the latest redemptions were recorded. The outflow activity represents seven consecutive trading sessions of net withdrawals, with approximately $1.71 billion redeemed since November 5.
