US spot Bitcoin ETFs recorded $185 million in net outflows on November 13, extending a run of investor withdrawals to a seventh consecutive trading day. Ethereum ETFs moved in the opposite direction, pulling in $2.36 million on the same day, according to flow data.
Flow trackers including Farside Investors put the precise Bitcoin ETF outflow figure at $185.4 million.
Two funds account for the full total
Nearly all of the day's withdrawals came from the two largest products in the category.
- BlackRock's iShares Bitcoin Trust (IBIT) led the retreat with $143.5 million in outflows.
- Fidelity's Wise Origin Bitcoin Fund (FBTC) followed with $41.9 million in outflows.
Combined, the two funds equal the full $185.4 million reported for the day. Every other spot Bitcoin ETF reported zero net flows.
The streak and the month
Over the full seven-day losing streak, Bitcoin ETFs shed roughly $1.91 billion. The November 13 outflow of $185.4 million amounted to less than a tenth of that cumulative total, indicating that earlier days in the run carried heavier withdrawals.
Cumulative outflows for November have exceeded $2 billion month-to-date.
The withdrawals occurred while Bitcoin itself traded in a range of $68,000 to $73,000.
Ethereum funds edge higher
On the Ethereum side, the inflow was reported at approximately $2.3 million to $2.36 million, depending on the tracker.
Spot Bitcoin ETFs launched in the US in January 2024 and have since attracted net inflows of about $54.8 billion to $55 billion. That cumulative figure has held up despite repeated outflow streaks. The current seven-day drain of roughly $1.91 billion represents under 4% of lifetime net inflows into these products.
What the data suggests
Research findings describe the outflows as pointing to growing wariness among institutional investors, driven by volatility and uncertainty around Bitcoin's price in recent weeks.
The concentration in IBIT and FBTC is the detail worth watching. When the two largest products account for 100% of a day's outflows, it suggests selling is coming from a specific class of holder rather than a broad-based exodus across every fund.
The research notes that the modest Ethereum inflows may hint at a shift in investor sentiment toward other crypto assets. However, a $2.36 million inflow against a $185.4 million outflow is not a rotation so much as a footnote, and one day of data does not make a trend.
