On November 6, U.S. spot Bitcoin ETFs saw total net outflows of $412 million in a single day, marking the second consecutive trading day of withdrawals.
Looking at the detailed figures, nearly all of the $412 million came from BlackRock’s IBIT. IBIT had net outflows of $403 million for the day—more than 97% of the total—and has now seen outflows for six consecutive trading days. Fidelity’s FBTC bucked the trend, with inflows of $42.82 million, partially offsetting the outflows. But for the week as a whole, Bitcoin ETFs saw a combined $1.28 billion in net outflows, their worst weekly performance since June. Cumulative flows for the year also turned negative for the first time.
Why are investors pulling out so aggressively? The main reason is a decline in risk appetite amid macroeconomic uncertainty. After the midterm elections, concerns about tech stock valuations and AI regulation have led institutions to actively reduce their overall risk exposure. At this stage, Bitcoin is being treated as a high-beta asset, and ETFs are the most liquid and easiest instruments to trade—making them a natural first exit for institutions looking to pull back.
There’s a notable disconnect to watch. Bitcoin has made a modest rebound around $75,000 to $76,000, but ETF funds are still flowing out. This suggests the current rebound is probably not being driven by new institutional buying. It may be due more to short covering in derivatives or a recovery in retail sentiment—factors that typically provide a less solid foundation. Going forward, watch closely for ETF flows to turn positive; that would be a genuine sign that institutional demand is stabilizing.
You can also follow me for more news and updates.
$BTC $BNB $SOL
This is an objective overview of publicly available information and market mechanisms only; it does not constitute investment advice.
#比特币ETF净流出4.12亿美元
Looking at the detailed figures, nearly all of the $412 million came from BlackRock’s IBIT. IBIT had net outflows of $403 million for the day—more than 97% of the total—and has now seen outflows for six consecutive trading days. Fidelity’s FBTC bucked the trend, with inflows of $42.82 million, partially offsetting the outflows. But for the week as a whole, Bitcoin ETFs saw a combined $1.28 billion in net outflows, their worst weekly performance since June. Cumulative flows for the year also turned negative for the first time.
Why are investors pulling out so aggressively? The main reason is a decline in risk appetite amid macroeconomic uncertainty. After the midterm elections, concerns about tech stock valuations and AI regulation have led institutions to actively reduce their overall risk exposure. At this stage, Bitcoin is being treated as a high-beta asset, and ETFs are the most liquid and easiest instruments to trade—making them a natural first exit for institutions looking to pull back.
There’s a notable disconnect to watch. Bitcoin has made a modest rebound around $75,000 to $76,000, but ETF funds are still flowing out. This suggests the current rebound is probably not being driven by new institutional buying. It may be due more to short covering in derivatives or a recovery in retail sentiment—factors that typically provide a less solid foundation. Going forward, watch closely for ETF flows to turn positive; that would be a genuine sign that institutional demand is stabilizing.
You can also follow me for more news and updates.
$BTC $BNB $SOL
This is an objective overview of publicly available information and market mechanisms only; it does not constitute investment advice.
#比特币ETF净流出4.12亿美元