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U.S. Bitcoin ETFs See $240 Million Inflows After Six-Day Decline

U.S. Bitcoin ETFs See $240 Million Inflows After Six-Day Decline

Latest data shows U.S. Bitcoin ETFs suffered over $1.11 billion in net weekly outflows, reflecting heightened bearish sentiment as Bitcoin trades below the $100,000 mark.

BTC

Summary

On November 14, U.S. Bitcoin ETFs recorded $492.1 million in daily net outflows, marking the third consecutive day of withdrawals and pushing weekly net outflows above $1.11 billion. BlackRock’s iShares Bitcoin Trust (IBIT) led with $463.1 million withdrawn, followed by Grayscale Bitcoin Trust (GBTC) at $25.09 million. Fidelity’s Wise Origin Bitcoin Fund (FBTC) and WisdomTree Bitcoin Trust (BTCW) also saw outflows of $2.06 million and $6.03 million, respectively. Grayscale’s Bitcoin Mini Trust (BTC) was the only product to post inflows, adding $4.17 million. The downturn coincided with Bitcoin’s dip below $100,000 to around $95,500, reflecting broad market bearishness.

Terms & Concepts
  • Bitcoin ETF: An exchange-traded fund that tracks the price of Bitcoin, providing exposure to the asset without direct ownership.
  • iShares Bitcoin Trust (IBIT): A Bitcoin-focused ETF by BlackRock offering institutional and retail investors indirect exposure to Bitcoin.