US spot Bitcoin exchange-traded funds (ETFs) marked a fourth consecutive day of net outflows on November 10, as investors withdrew a total of $95 million from these products. Data provided by Farside Investors indicated that BlackRock’s iShares Bitcoin Trust (IBIT) saw the largest outflows among all funds, with redemptions totaling $78.2 million. Fidelity’s Wise Origin Bitcoin Fund (FBTC) recorded $36.8 million in withdrawals during the same session.
Reduced Demand Continues to Weigh on Bitcoin ETFs
Hashdex Bitcoin ETF (DEFI) offered a modest offset to the broader negative trend, attracting $20 million in net inflows during the trading day. However, this was not sufficient to counterbalance the overall outflows affecting US-listed Bitcoin ETFs throughout the week.
Spot Bitcoin ETFs in the United States have faced intensified selling pressure over the past several sessions. On November 6, net outflows totaled $411.9 million, followed by redemptions of $201 million on November 9. BlackRock’s IBIT, managed by the world’s largest asset management firm, has sustained persistent losses for eight consecutive trading days, highlighting continued institutional caution.
Recent flows show that while outflows remain, the magnitude has narrowed, with BlackRock and Fidelity leading the withdrawals but individual products like Hashdex still managing to attract capital.
Despite prolonged outflows, cumulative net inflows for these US-based spot Bitcoin ETFs remain positive, standing at approximately $55.47 billion. This points to continued institutional interest in Bitcoin over the long term, though recent trends suggest that some investors remain wary amid broader market fluctuations.
| ETF | Net Flows (Nov. 10) | Cumulative Net Inflows |
|---|---|---|
| BlackRock IBIT | -$78.2 million | Positive |
| Fidelity FBTC | -$36.8 million | Positive |
| Hashdex DEFI | +$20 million | N/A |
| All US spot Bitcoin ETFs | -$95 million | ~$55.47 billion |
Market Sentiment and Bitcoin Price Dynamics
In addition to ETF outflows, Bitcoin’s price remained under pressure. Over the previous 24 hours, the cryptocurrency traded near $73,810, reflecting a 0.8% decline amid ongoing market uncertainty. The move followed a week marked by both increased redemptions and nervous risk sentiment among investors.
Some analysts view the reduced scale of outflows on November 10, compared to earlier in the week, as a tentative sign that selling pressure through ETFs may be starting to moderate.
Institutional investors appear cautious for now, but the decrease from $201 million to $95 million in daily outflows suggests the pace of withdrawals could be slowing.
Market participants are closely monitoring Bitcoin’s ability to remain above the $73,000 level. A move higher toward $75,000 may influence sentiment and determine whether the cryptocurrency can regain upward momentum in the days ahead.
For now, many funds continue to evaluate their positioning as they navigate ongoing volatility in the broader digital asset market.
