Bitcoin ETFs start November $440 million in the red
BlackRock's IBIT drove the outflows while Fidelity's FBTC pulled in new money.
US spot bitcoin ETFs had net outflows of about $439.6 million over the first three trading days of November, according to TFTC's flow tracker. Two days of selling outweighed one day of buying.
Who sold, who bought
- BlackRock IBIT: about $701.5 million out, the biggest outflow by far.
- Fidelity FBTC: about $250.2 million in, nearly all of it on November 4.
- Bitwise BITB: about $37.1 million in. Grayscale's Mini (BTC): about $52.6 million out.
Headlines on November 6 pointed to roughly $430 million more leaving after Thursday's tech sell-off. We will add that day to the chart when the final daily data is posted.
Why it matters
ETF flows are the clearest daily read on demand from big investors. Steady outflows during a price drop mean institutions are cutting risk, not buying the dip. A turn back to inflows would be an early sign that selling is done.
Not financial advice.