U.S. spot bitcoin ETFs recorded net outflows of $299.9 million on Wednesday, November 11, extending outflows to a fifth straight trading day, CoinDesk reported, citing SoSoValue data. The five sessions since November 5 total about $1.44 billion. Crypto.news cited Farside Investors data showing $299.8 million for the same day.
BlackRock’s iShares Bitcoin Trust (IBIT) accounted for $269.73 million of the outflow, about 90% of the total, according to crypto.news, and CoinDesk described it as the fund’s ninth consecutive session of redemptions. Grayscale’s GBTC lost $39.13 million. Morgan Stanley’s MSBT was the only fund with net inflows, at $8.96 million, while the remaining funds showed no net movement.
U.S. spot ether ETFs also lost money that day, with net outflows of $144.81 million, including $129.78 million from BlackRock’s ETHA, crypto.news reported.
Cumulative net inflows into U.S. spot bitcoin ETFs since their January 2024 launch stand at $55.1 billion, per the SoSoValue figures cited by crypto.news.
The outflows coincided with a weak market. CoinDesk said bitcoin slipped alongside tech stocks as turmoil at Nvidia weighed on sentiment, and Bitcoin Magazine reported that IBIT shares fell 4.5% to $40.36 on Thursday, November 12. Bitcoin dipped below $70,000 early on Friday, crypto.news reported. Daily figures for November 12 had not been published in the sources reviewed.
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Sources:
CoinDesk: Bitcoin slips with tech stocks as Nvidia CEO turmoil and ETF outflows weigh
crypto.news: BlackRock leads $300 million Bitcoin ETF outflows as BTC struggles near $73K
Bitcoin Magazine: Bitcoin Price Slips To $71,000, Lowest Since Late August
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