One BlackRock fund dominates Bitcoin’s billion-dollar ETF exodus
Summary
US spot Bitcoin ETFs recorded $1.282 billion in net outflows during November 2–6, with BlackRock’s IBIT accounting for $1.21 billion, or 94.4% of the net withdrawal. IBIT saw outflows every session, while Fidelity’s FBTC gained $93 million for the week and several other funds also had positive flows. Excluding IBIT, the remaining funds still had $72 million in net outflows. IBIT’s withdrawals were about 2% of its roughly $61 billion in assets. Flow data do not show whether redemptions were settled in cash or Bitcoin, or establish equivalent open-market selling or investor motives. Future fund flows will indicate whether IBIT outflows ease and whether demand broadens.
