Image Credit: Unsplash
- U.S. spot Bitcoin ETFs lost $299.8 million on Nov. 11, a fifth straight session of outflows totaling about $1.44 billion.
- BlackRock's IBIT drove about 74% of the streak's withdrawals, while Morgan Stanley's MSBT drew $51.1 million in three sessions.
- November's net outflows reached about $1.88 billion through Nov. 11, with seven of eight sessions negative.
U.S. spot Bitcoin ETFs lost another $299.8 million on Nov. 11, extending their withdrawal streak to five trading sessions, Farside Investors’ data show.
The run has now taken roughly $1.44 billion out of the funds. BlackRock’s IBIT led the withdrawals, despite a small Morgan Stanley inflow.
IBIT Accounts for About 90% of Wednesday’s Net Outflow
BlackRock’s iShares Bitcoin Trust ETF (IBIT) recorded $269.7 million in net withdrawals. Grayscale Bitcoin Trust ETF (GBTC) lost another $39.1 million, while Morgan Stanley Bitcoin Trust (MSBT) attracted $9 million.
The other nine funds reported zero net flows. IBIT alone accounted for about 90% of the aggregate net outflow.
Across the five-session streak, IBIT lost about $1.07 billion, roughly 74% of the combined net withdrawals from U.S. Bitcoin ETFs. Fidelity Wise Origin Bitcoin Fund (FBTC) lost $193.9 million over the same stretch, while GBTC shed $100.1 million. Together, the three funds accounted for about 95% of the streak’s net withdrawals.
IBIT’s recent run looks different from its third-quarter results. Between July and September, new share creations added approximately $7.8 billion and redemptions removed $2.67 billion, leaving a net increase of about $5.13 billion from share transactions.
Five Negative Sessions Keep the Pressure On
The streak began with $430.2 million leaving on Nov. 5, followed by $411.9 million on Nov. 6. Outflows then reached $201 million on Monday, $95 million on Tuesday and $299.8 million on Wednesday.
Morgan Stanley’s fund has moved the other way this week, attracting $51.1 million across the three sessions. Its additions softened the group’s losses but could not turn any of those days positive.
November’s net outflows now total about $1.88 billion through Nov. 11. Seven of the month’s eight completed trading sessions have ended negative, with the only positive day bringing in $74.6 million on Nov. 4.
Bitcoin traded near $74,330 at 11:10 UTC on Nov. 12, down 0.18% over the previous 24 hours, according to Coin Insider’s market data. Its 24-hour trading range was approximately $73,525–$75,568.
ETF flows track net share creations and redemptions, rather than the volume of existing shares traded on exchanges.
