Overview
- Fidelity’s Wise Origin Bitcoin Fund (FBTC) recorded about $236.7 million of net inflows that required the manager to buy actual Bitcoin, according to ETF flow data reported by multiple providers.
- BlackRock’s iShares Bitcoin Trust (IBIT) saw sustained redemptions, with reports of roughly $201 million leaving in the same session and further withdrawals in early November from several outlets.
- A sharp cross‑market selloff in U.S. technology stocks triggered forced exits of leveraged crypto positions, producing roughly $1.1 billion to $1.26 billion of liquidations concentrated in long bets, data firms reported.
- The combined effect of noisy, concentrated ETF flows and heavy leverage pushed Bitcoin down about 5–6% to roughly $75,600–$76,000, a seven‑week low before a partial rebound in early trading on Friday.
- Lower ETF trading activity and mixed institutional channels of demand, including corporate treasury purchases funded by preferred stock, mean price remains sensitive to single‑fund swings and further macro shocks.