Bitcoin ETFs shed $2.35B in two weeks as BlackRock’s losing streak hits 11 sessions
US spot Bitcoin ETFs recorded $185.4 million in net outflows Friday, with BlackRock’s IBIT accounting for $143.5 million and Fidelity’s FBTC shedding $41.9 million.
Spot Bitcoin ETFs in the US experienced a significant outflow of $2.35 billion over two consecutive weeks, marking the largest weekly redemptions since late June. BlackRock's IBIT was responsible for $143.5 million of the withdrawals, while Fidelity's FBTC saw $41.9 million in outflows. The trend of net withdrawals has continued for seven consecutive trading sessions, with a total of approximately $1.71 billion being redeemed since November 5.
The drop in Bitcoin's price below $70,000 on the same day contributed to the sustained outflows. IBIT's 11-session withdrawal streak began on October 30, and the fund has now lost about $2.35 billion in total net outflows during this period.
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