Overview
- U.S. spot bitcoin ETFs saw roughly $372.8 million in net outflows on Nov. 18, led by BlackRock’s iShares Bitcoin Trust with a $523.15 million single-day withdrawal, its largest since launch.
- IBIT has registered five straight days of redemptions totaling $1.43 billion and four consecutive weeks of net outflows totaling about $2.19 billion, yet it remains the largest spot bitcoin ETF at roughly $72.76–$73 billion in assets.
- Bitcoin slipped below $90,000 earlier this week after an early-October record of $126,080 and recently traded near $91,849, with researchers warning that renewed selling and leverage could push prices toward the $84,000–$86,000 range.
- Flows are diverging across crypto funds, with BlackRock’s spot ether ETF (ETHA) logging $165 million in outflows on Tuesday as Solana products recorded a 16th straight day of inflows led by Bitwise’s BSOL with $23 million.
- Analysts cite long-term holder profit-taking and cautious positioning, with some also pointing to investor interest in gold as bitcoin’s drawdown deepens.