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US spot Bitcoin exchange-traded funds had $696 million in net outflows on Friday. That is the largest single-day exit since January.
The funds had already taken several big hits in recent weeks. On October 30, investors pulled $643.3 million in one session, which at the time was the largest single-day exit in about four months. Friday’s $696 million beat that figure, so the bar for a bad day keeps moving.
Early November was not much better. Outflows reached $430.2 million on November 5, then $411.9 million on November 6. Those sessions formed part of a three-day run of redemptions.
The week ending November 7 lost approximately $1.28 billion in total. That made it the worst week for these funds since June 2026.
BlackRock leads the exits
BlackRock’s IBIT, the biggest name in the category, has accounted for most of the recent outflows.
IBIT alone shed $403 million on November 6. That was almost the entire $411.9 million that left all US spot Bitcoin ETFs combined that day. It lost another $213.2 million on November 9.
Some funds held up better. Fidelity’s FBTC and Morgan Stanley’s MSBT occasionally reported inflows during the period, which shows that not every allocator was heading for the door.
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The year’s tally turns negative
The redemptions have had a real effect on the scoreboard. Net flows into US spot Bitcoin ETFs for the year fell into negative territory during the early November stretch, down around $914 million.
The longer view still looks healthy. Cumulative net inflows since the funds launched in January 2024 total between $55.5 billion and $56 billion. Total assets under management were estimated at between $94 billion and $96 billion as of mid-November 2026.
Why the flows matter
Spot Bitcoin ETFs launched in January 2024 and quickly became one of the main ways institutions and ordinary brokerage customers get exposure to Bitcoin without holding it directly. No private keys or exchange accounts are needed. You buy a ticker the same way you would buy shares of a utility company.
That convenience made daily flow data one of the most closely watched indicators in crypto. Inflows are read as traditional money arriving. Outflows are read as that money having second thoughts.
The latest wave of redemptions has coincided with broader market volatility and price corrections in Bitcoin.
What this means
The concentration in IBIT is worth tracking. If the largest fund keeps leading redemptions while smaller rivals such as FBTC and MSBT draw occasional inflows, it could point to allocators rebalancing between issuers rather than abandoning Bitcoin exposure altogether. A broad exit would show up across most funds at once. The pattern on a given day helps separate those two explanations.
The cumulative figures still matter. More than $55 billion in net inflows since launch and assets in the mid-$90 billion range show that ETFs remain a large and established channel for Bitcoin exposure.
Things to watch next: whether daily flows return to positive, whether IBIT’s redemptions slow down, and whether the year-to-date total recovers from negative territory before December ends.
