U.S. Spot Bitcoin ETFs Post $696 Million Outflow, Largest Since January

U.S. spot Bitcoin exchange-traded funds recorded $696 million in net outflows in one session, the largest daily withdrawal since January and a sharp pullback from a major route for investors to gain Bitcoin exposure.

A previous high came Oct. 30, when investors withdrew $643.3 million in one session. Outflows totaled $430.2 million on Nov. 5 and $411.9 million on Nov. 6. BlackRock’s IBIT accounted for $403 million of the Nov. 6 total, nearly matching all outflows across the category that day.

Net flows for U.S. spot Bitcoin ETFs fell to about $914 million below zero for the year during the early November stretch. Since the funds launched in January 2024, their cumulative net inflows have reached between $55.5 billion and $56 billion.

Spot Bitcoin ETFs give brokerage investors exposure to Bitcoin without requiring them to hold it directly. The withdrawals coincided with broader market volatility and Bitcoin price corrections.