PiCK

Summary

  • US spot Bitcoin ETFs posted total net outflows of $842.12 million over two straight days.
  • BlackRock's IBIT alone shed $403 million, while Bitwise's BITB, Ark 21Shares' ARKB, and Grayscale's GBTC also posted net outflows.
  • Fidelity's FBTC was the only fund to record a net inflow, at $42.82 million, while cumulative net inflows for US spot Bitcoin ETFs stood at $55.7 billion.

Forecast Trend Report by Period

Outflows extend to a second day, bringing the two-day total to $842.12 million

US spot Bitcoin exchange-traded funds posted outflows for a second straight day. More than $400 million left BlackRock's fund alone, easily surpassing the inflow into Fidelity's product.

SoSoValue data for Nov. 6 showed US spot Bitcoin ETFs recorded net outflows of $411.92 million on the day. That followed $430.2 million in net outflows a day earlier, bringing the two-day total to $842.12 million.

BlackRock's IBIT led the outflows, with $403 million withdrawn. Bitwise's BITB and Ark 21Shares' ARKB posted net outflows of $20.55 million and $20.09 million, respectively. Grayscale's GBTC saw net outflows of $11.11 million.

Fidelity's FBTC was the only fund to record a net inflow, at $42.82 million. The other seven products saw no net inflows or outflows. As of Nov. 6, cumulative net inflows into US spot Bitcoin ETFs stood at $55.7 billion.

Doohyun Hwang