Spot Bitcoin ETFs Experience $400.6M in Outflows, Breaking Streak of Inflows

On November 14, U.S. spot Bitcoin exchange-traded funds (ETFs) faced a significant reversal, with a total of $400.67 million in net outflows, ending a six-day inflow streak that had previously brought over $4.73 billion into these funds.

Data from SoSoValue highlighted that 12 spot Bitcoin ETFs experienced a negative day, marking the largest outflow since May. Fidelity’s FBTC was the hardest hit, suffering outflows of $179.16 million, its largest outflow since May 1, when it saw $191.1 million in withdrawals. ARK and 21Shares’ ARKB followed closely with outflows of $161.72 million. Bitwise’s BITB also experienced a record outflow of $113.94 million, its highest since inception. Additionally, Grayscale’s GBTC and Mini Bitcoin Trust saw outflows of $69.59 million and $5.28 million, respectively.

Despite the overall negative trend for Bitcoin ETFs, BlackRock’s IBIT fund bucked the trend with a substantial $1.236 billion in net inflows. This brought the fund’s six-day inflow streak to a total of over $3.2 billion, pushing IBIT to an impressive $40 billion in assets under management (AUM) in just 211 days—making it one of the top 1% of all ETFs in terms of AUM. Notably, IBIT has already surpassed the iShares Gold Trust, which currently manages around $33.41 billion in assets. VanEck’s HODL saw modest inflows of $2.5 million, while other Bitcoin ETFs saw no significant movement.

The outflows coincided with a drop in Bitcoin’s price, which fell below $87,000 on November 14, following comments from Federal Reserve Chair Jerome Powell who stated that there was no immediate urgency to cut interest rates. Bitcoin was approximately $6,500 short of its all-time high of $93,477, which it had reached just a day earlier on November 13.

Ether ETFs Also Face Outflows

The nine spot Ether ETFs also experienced a negative day on November 14, with a collective $3.24 million in net outflows, ending their own six-day streak of positive inflows. Grayscale’s ETHE saw the largest withdrawals, with $21.9 million leaving the fund. VanEck’s ETHV saw a smaller outflow of $1.14 million.

However, BlackRock’s ETHA and VanEck’s QETH managed to mitigate the negative trend by recording inflows of $18.87 million and $929,010, respectively. Despite these positive contributions, the nine Ethereum ETFs collectively experienced outflows for the day, marking a rare dip in a generally strong segment for the crypto investment space.

As of the latest data, Ether was trading at $3,067, down 6.2% over the past 24 hours, while Bitcoin was priced at $87,971, reflecting a 2.8% decrease for the day.