$BTC / ETFs saw $1.28 billion pulled this week, but prices are still holding
The latest figures from Farside show that on November 6,
U.S. spot BTC ETFs had net outflows of $412 million in a single day.
Almost all of it came from BlackRock’s IBIT, which saw $403 million in redemptions that day—
its biggest outflow since June 26.
Here’s the interesting part:
excluding IBIT, the other funds barely moved overall.
Fidelity’s FBTC actually saw $42.8 million in net inflows that day.
So this isn’t the whole market rushing for the exits—it’s one fund seeing outflows.
There were also $430 million in outflows on November 5, bringing the two-day total to $842 million.
Over the first five trading days of November, ETFs saw cumulative net outflows of $1.28 billion.
IBIT alone accounted for $1.21 billion of that.
ETH saw a similar story:
net outflows of $93.3 million on November 6, with BlackRock’s ETHA alone accounting for $90.8 million.
But prices haven’t crashed along with them.
BTC is currently at $76,150, holding above $75,000.
$840 million over two days sounds scary, but against a $1.5 trillion market cap, that’s just 0.055%.
Really not much.
Also, don’t equate ETF redemptions directly with spot selling.
These figures are only reported after settlement, so they’re inherently lagging.
Take the fearmongering headlines with a grain of salt.
The five trading days from November 9 to 13 will be the real test.
Will outflows ease, or keep going? We’ll find out then.
$75,000 is still my benchmark—let’s talk about anything else only if the daily candle closes below it.
Just my personal opinion, not investment advice.
#BitcoinETF
The latest figures from Farside show that on November 6,
U.S. spot BTC ETFs had net outflows of $412 million in a single day.
Almost all of it came from BlackRock’s IBIT, which saw $403 million in redemptions that day—
its biggest outflow since June 26.
Here’s the interesting part:
excluding IBIT, the other funds barely moved overall.
Fidelity’s FBTC actually saw $42.8 million in net inflows that day.
So this isn’t the whole market rushing for the exits—it’s one fund seeing outflows.
There were also $430 million in outflows on November 5, bringing the two-day total to $842 million.
Over the first five trading days of November, ETFs saw cumulative net outflows of $1.28 billion.
IBIT alone accounted for $1.21 billion of that.
ETH saw a similar story:
net outflows of $93.3 million on November 6, with BlackRock’s ETHA alone accounting for $90.8 million.
But prices haven’t crashed along with them.
BTC is currently at $76,150, holding above $75,000.
$840 million over two days sounds scary, but against a $1.5 trillion market cap, that’s just 0.055%.
Really not much.
Also, don’t equate ETF redemptions directly with spot selling.
These figures are only reported after settlement, so they’re inherently lagging.
Take the fearmongering headlines with a grain of salt.
The five trading days from November 9 to 13 will be the real test.
Will outflows ease, or keep going? We’ll find out then.
$75,000 is still my benchmark—let’s talk about anything else only if the daily candle closes below it.
Just my personal opinion, not investment advice.
#BitcoinETF
