Bitcoin ETFs lose US$ 201 million; IBIT leads outflows
📋 Summary
U.S. spot Bitcoin ETFs recorded net outflows of US$ 201.1 million on November 9, their third consecutive trading session in the red. BlackRock’s IBIT lost US$ 213.2 million, accounting for most of the pressure, while Bitcoin remained below US$ 75 thousand.
Spot Bitcoin ETFs traded in the United States ended Monday (9) with US$ 201.1 million in net outflows. It was the third consecutive trading session of redemptions, as Bitcoin tries to stabilize below US$ 75 thousand.
The move was led by BlackRock’s iShares Bitcoin Trust (IBIT), which recorded outflows of US$ 213.2 million. The amount exceeded the net outflow from all the funds combined because Morgan Stanley’s MSBT product received US$ 22.1 million that same day, offsetting some of the losses.
IBIT logs seven consecutive sessions of outflows
Data compiled by Farside Investors show that ARK Invest and 21Shares’ ARKB also lost US$ 9.9 million. The other funds reported zero flows at the close of the session.
According to Cointelegraph, IBIT entered its seventh consecutive session in the red and has seen about US$ 1.66 billion in redemptions since October 30. The streak contrasts with earlier periods, when the largest U.S. Bitcoin ETF served as the main gateway for institutional capital into the asset.
An important distinction is needed: saying that IBIT saw outflows does not mean BlackRock decided to sell Bitcoin on its own. The flows reflect the creation and redemption of shares by investors and authorized participants. Even so, persistent redemptions can reduce marginal demand in the spot market and weigh on the price.
The current pressure continues a deterioration that was already visible at the end of October. At the time, Bitcoin ETFs lost US$ 643 million in a single session.
📋 Summary
U.S. spot Bitcoin ETFs recorded net outflows of US$ 201.1 million on November 9, their third consecutive trading session in the red. BlackRock’s IBIT lost US$ 213.2 million, accounting for most of the pressure, while Bitcoin remained below US$ 75 thousand.
Spot Bitcoin ETFs traded in the United States ended Monday (9) with US$ 201.1 million in net outflows. It was the third consecutive trading session of redemptions, as Bitcoin tries to stabilize below US$ 75 thousand.
The move was led by BlackRock’s iShares Bitcoin Trust (IBIT), which recorded outflows of US$ 213.2 million. The amount exceeded the net outflow from all the funds combined because Morgan Stanley’s MSBT product received US$ 22.1 million that same day, offsetting some of the losses.
IBIT logs seven consecutive sessions of outflows
Data compiled by Farside Investors show that ARK Invest and 21Shares’ ARKB also lost US$ 9.9 million. The other funds reported zero flows at the close of the session.
According to Cointelegraph, IBIT entered its seventh consecutive session in the red and has seen about US$ 1.66 billion in redemptions since October 30. The streak contrasts with earlier periods, when the largest U.S. Bitcoin ETF served as the main gateway for institutional capital into the asset.
An important distinction is needed: saying that IBIT saw outflows does not mean BlackRock decided to sell Bitcoin on its own. The flows reflect the creation and redemption of shares by investors and authorized participants. Even so, persistent redemptions can reduce marginal demand in the spot market and weigh on the price.
The current pressure continues a deterioration that was already visible at the end of October. At the time, Bitcoin ETFs lost US$ 643 million in a single session.