Bitcoin ETF Withdrawals Reach $2.35 Billion Across Two Weeks
What happened: U.
What happened: U.S. spot Bitcoin ETFs lost $2.35 billion across two consecutive weeks, comprising $1.28 billion followed by $1.07 billion. On November 13, BlackRock's IBIT accounted for $143.5 million of the day's $185.4 million in withdrawals, while Fidelity's FBTC lost $41.9 million. IBIT's withdrawal streak reached 11 consecutive trading sessions beginning October 30, with approximately $2.35 billion leaving that fund during the streak—a separate measurement from the industrywide two-week total.
Why it matters: The concentration makes IBIT an important indicator to follow: its November withdrawals of $2.12 billion represented approximately 90% of the month's market withdrawals in the supplied reporting. Persistence should nevertheless be distinguished from cumulative severity, because the earlier June 17–July 1 streak lasted 10 sessions but removed a larger $2.71 billion. The latest figures therefore support a picture of sustained redemptions, while offering insufficient evidence to describe the episode as an unprecedented dollar outflow or to identify whether sellers are reducing exposure permanently.
Source: Cointelegraph