Bitcoin Spot ETFs Record $558 Million Net Outflow on November 7
U.S. Bitcoin spot ETFs marked a fourth straight day of withdrawals on November 18, with BlackRock’s IBIT leading the $220 million total net outflow, according to Farside Investors.
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Summary
On November 18, U.S. Bitcoin spot ETFs logged a $220.1 million combined net outflow, marking the fourth consecutive day of withdrawals, according to data from Farside Investors. BlackRock’s iShares Bitcoin Trust (IBIT) recorded the largest outflow at $145.6 million, while ARK 21Shares Bitcoin ETF (ARKB) saw $29.7 million withdrawn. The consistent daily outflows indicate short-term bearish sentiment within the Bitcoin ETF market.
Terms & Concepts
- Bitcoin ETF: An exchange-traded fund that tracks the price of Bitcoin, allowing investors to gain exposure without directly holding the cryptocurrency.
- Net outflow: A situation where the total withdrawals from a fund exceed deposits over a given period, indicating reduced investor capital.