Of the $1.28 billion that flowed out of Bitcoin ETFs last week, $1.21 billion came from just one fund: BlackRock’s IBIT.
Key figures:
• IBIT: -$1.21 billion for the week (Nov 2–6) — about 94% of the total $1.28 billion outflow from U.S. BTC ETFs (The Block, Nov 7–8; Farside/SoSoValue data).
• Friday, Nov 6 alone: IBIT -$403 million — 88% of the day’s $411.9 million outflow. Fidelity’s FBTC, on the other hand, saw +$42.8 million that day, making it the only fund with inflows.
• IBIT’s streak: 6 consecutive sessions of outflows since Oct 30, totaling -$1.44 billion.
• SOL: -$26.3 million, marking its fifth consecutive week of outflows — almost entirely on Friday.
My take: this isn’t institutions all heading for the exits in unison — one fund dominated the weekly figure, while Fidelity saw inflows on the same day. But there’s an important caveat: fund outflows don’t prove that an equivalent amount of spot BTC was sold; these are fund settlement figures. BTC itself is still around $75,850 tonight, remaining below the key $77,684 level.
What I’m watching next: flows on Monday, Nov 9 — will IBIT’s outflows stop? — and U.S. CPI on Nov 10.
Do you think one fund’s dominance makes the weekly figure look worse than it really is, or is that the signal?
This is my analysis, not financial advice — always DYOR.
#ETFBitcoin #IBIT $BTC
Key figures:
• IBIT: -$1.21 billion for the week (Nov 2–6) — about 94% of the total $1.28 billion outflow from U.S. BTC ETFs (The Block, Nov 7–8; Farside/SoSoValue data).
• Friday, Nov 6 alone: IBIT -$403 million — 88% of the day’s $411.9 million outflow. Fidelity’s FBTC, on the other hand, saw +$42.8 million that day, making it the only fund with inflows.
• IBIT’s streak: 6 consecutive sessions of outflows since Oct 30, totaling -$1.44 billion.
• SOL: -$26.3 million, marking its fifth consecutive week of outflows — almost entirely on Friday.
My take: this isn’t institutions all heading for the exits in unison — one fund dominated the weekly figure, while Fidelity saw inflows on the same day. But there’s an important caveat: fund outflows don’t prove that an equivalent amount of spot BTC was sold; these are fund settlement figures. BTC itself is still around $75,850 tonight, remaining below the key $77,684 level.
What I’m watching next: flows on Monday, Nov 9 — will IBIT’s outflows stop? — and U.S. CPI on Nov 10.
Do you think one fund’s dominance makes the weekly figure look worse than it really is, or is that the signal?
This is my analysis, not financial advice — always DYOR.
#ETFBitcoin #IBIT $BTC