BlackRock pulls $403 million in one day, pushing Bitcoin spot ETF flows negative for the year
On November 6, Bitcoin spot ETFs saw net outflows of $412 million. SoSoValue data shows this was the second consecutive day of heavy redemptions. The previous day saw outflows of about $430 million, bringing the two-day total to more than $840 million.
The outflows were heavily concentrated in BlackRock: IBIT saw $403 million in outflows in a single day, accounting for 98% of the day’s total. Fidelity’s FBTC bucked the trend with $42.8 million in net inflows, one of the few positive figures that day.
Ethereum spot ETFs saw outflows of $93.19 million on the same day, following outflows of about $100 million the day before.
Cumulative net inflows into Bitcoin spot ETFs have turned negative year to date, at around -$502 million. By comparison, Bitcoin ETFs across the market still hold $96.65 billion in assets—a small dent, not a crash.
Two consecutive days of outflows totaling $840 million do not signal retail panic; they reflect institutional allocators repricing after the nonfarm data and the tech-stock sell-off. The coming week will be a test: if Bitcoin spot ETFs return to net inflows between November 7 and 13, with daily inflows exceeding $200 million, this will have been a portfolio rebalance. If outflows continue and another $500 million or more leaves, the rebound around $75,000 will fail to hold, and flows for the year will officially turn negative.
$BTC #BitcoinETF
On November 6, Bitcoin spot ETFs saw net outflows of $412 million. SoSoValue data shows this was the second consecutive day of heavy redemptions. The previous day saw outflows of about $430 million, bringing the two-day total to more than $840 million.
The outflows were heavily concentrated in BlackRock: IBIT saw $403 million in outflows in a single day, accounting for 98% of the day’s total. Fidelity’s FBTC bucked the trend with $42.8 million in net inflows, one of the few positive figures that day.
Ethereum spot ETFs saw outflows of $93.19 million on the same day, following outflows of about $100 million the day before.
Cumulative net inflows into Bitcoin spot ETFs have turned negative year to date, at around -$502 million. By comparison, Bitcoin ETFs across the market still hold $96.65 billion in assets—a small dent, not a crash.
Two consecutive days of outflows totaling $840 million do not signal retail panic; they reflect institutional allocators repricing after the nonfarm data and the tech-stock sell-off. The coming week will be a test: if Bitcoin spot ETFs return to net inflows between November 7 and 13, with daily inflows exceeding $200 million, this will have been a portfolio rebalance. If outflows continue and another $500 million or more leaves, the rebound around $75,000 will fail to hold, and flows for the year will officially turn negative.
$BTC #BitcoinETF