U.S. spot Bitcoin exchange-traded funds (ETFs) recorded net outflows of $2.35 billion for two consecutive weeks, with redemptions exceeding $1 billion each week.

According to Farside Investors, spot Bitcoin ETFs lost $1.07 billion from November 9 to 13, following $1.28 billion in outflows the previous week—the largest weekly redemptions since late June.

On Friday, net outflows from the funds totaled $185.4 million, compared with $284.1 million on Thursday and $299.8 million on Wednesday. BlackRock’s IBIT (iShares Bitcoin Trust) accounted for $143.5 million of Friday’s outflows, while Fidelity’s Wise Origin Bitcoin Fund (FBTC) lost $41.9 million.

Friday marked the seventh consecutive trading session of net outflows: since November 5, investors have redeemed approximately $1.71 billion worth of shares. The prolonged outflows coincided with a broader market downturn, as $BTC fell below $70,000 that same day.

BlackRock’s Bitcoin ETF extends outflow streak to 11 sessions

Friday’s $143.5 million net outflow from IBIT extended the fund’s outflow streak to 11 consecutive trading sessions, dating back to October 30.

The latest losses brought total net outflows from IBIT over the 11-session streak to approximately $2.35 billion; outflows continued after surpassing the $2 billion mark on Wednesday.

Over the past week, IBIT lost $908.4 million, following outflows of approximately $1.21 billion the previous week. November’s outflows reached $2.12 billion, accounting for about 90% of the broader bitcoin ETF market’s net outflows for the month.