US spot $BTC ETFs printed +$74.6M on Nov 4. Strip out Fidelity and the day was roughly −$162M.

After three outflow sessions (~$1.16B out), the headline looked like re-entry. Fidelity's FBTC took in $236.7M. BlackRock's IBIT lost $201.2M — its fourth straight red day, about $935M over four sessions per TradingNews.

Four funds finished green. One finished red. Seven did nothing. FBTC covered IBIT's exit on its own; the smaller greens were noise around that swap.

The green total is a rotation between the two biggest products, not a broad bid. Receipt: without FBTC, Nov 4 was still an outflow day.

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NFA. DYOR.