Bitcoin ETF Withdrawals Reach $2.35B as IBIT's Outflow Streak Continues

What happened: US spot Bitcoin ETFs recorded $2.35 billion in net outflows over two weeks through November 13, with BlackRock's IBIT registering 11 consecutive sessions of withdrawals since October 30. Friday's combined outflow was $185.4 million, comprising $143.5 million from IBIT and $41.9 million from Fidelity's FBTC. IBIT's November withdrawals reached approximately $2.12 billion, representing roughly 90% of the reported market total, although it retained approximately $56 billion in assets under management.

Why it matters: The concentration in IBIT identifies where most reported withdrawals occurred, but the flow figures alone do not identify sellers or establish why they redeemed. Its remaining assets also put the streak in perspective: persistent withdrawals have not displaced the fund's substantial asset base. Alongside JPMorgan's September disclosure, the figures demonstrate why institutional positioning needs separate readings of holdings and flows; comparing their headlines without matching their measurement dates risks presenting older allocations as evidence of current buying.

Sources: Cointelegraph; Atlabyte.