Bitcoin ETFs See $869 Million Outflow

U.S.-listed spot Bitcoin exchange-traded funds (ETFs) experienced a net outflow of $869.9 million on Thursday, November 13th. This marks the second-largest daily outflow in the history of ETFs associated with cryptocurrency assets.

According to SoSoValue data, Grayscale’s Bitcoin Mini Trust led the outflows with $318.2 million. BlackRock’s IBIT fund saw a net outflow of $256.6 million, while Fidelity’s FBTC fund saw $119.9 million leave.

Thursday’s outflows represent the second-largest daily net outflow since the ETFs’ launch. The largest outflow occurred on February 25, 2024, when $1.14 billion exited the funds in a single day.

Vincent Liu, managing director at Kronos Research, stated that the substantial outflows “reflect a risk-off move by institutions amid macro noise.” He added, “This flow is dampening short-term momentum, but not undermining broader structural demand. These capital losses are consistent with oversold conditions and open doors for long-term opportunity seekers.”

Bitcoin’s price has also declined. BTC fell below $100,000 and is currently trading at $97,000 as of the time of this report. The price previously dipped to $96,564 during the day.

This information is provided for informational purposes only and should not be interpreted as investment advice or guarantees of profit or loss.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.