US Spot-Bitcoin ETFs See $1.282 Billion in Weekly Outflows, Led by BlackRock

Summary

• US spot-Bitcoin ETFs recorded total net outflows of $1.282 billion last week.
• BlackRock's iShares Bitcoin Trust (IBIT) alone saw $1.209 billion in outflows, accounting for about 94% of the total.
• US spot-Ether ETFs extended their streak of net outflows to six straight weeks, with $365 million withdrawn last week, bringing combined net outflows across the two assets to $1.647 billion.

Forecast Trend Report by Period

More than $1.2 billion flowed out of US spot-Bitcoin exchange-traded funds last week.

Wu Blockchain reported on November 9 that US spot-Bitcoin ETFs posted total net outflows of $1.282 billion in the November 2-November 6 period.

BlackRock's iShares Bitcoin Trust (IBIT) accounted for $1.209 billion of that amount. That was about 94% of the total net outflows from spot-Bitcoin ETFs.

Outflows also continued from spot-Ether ETFs. Over the same period, US spot-Ether ETFs recorded net outflows of $365 million.

Spot-Ether ETFs have now posted weekly net outflows for six straight weeks. Institutional demand for Ether exposure has yet to recover.

Combined net outflows from spot-Bitcoin and spot-Ether ETFs reached $1.647 billion last week.

Suehyeon Lee