BlackRock's IBIT Drives Bitcoin (BTC) ETF Outflows to $299.8 Million for Fifth Day

Fifth Straight Session of Outflows

US spot Bitcoin (BTC) ETFs posted a net outflow of $299.8 million on Wednesday, the fifth consecutive trading day of withdrawals. The streak that began on Nov. 5 has removed about $1.44 billion from the funds, and Wednesday's figure ran roughly 3.2 times Tuesday's $95 million. Bitcoin (BTC) price held near $73,650 in early Thursday trading, down 0.3% over 24 hours, so the redemption streak has yet to produce a sharp move lower. Across the 12-fund ETF complex, only Morgan Stanley's MSBT took in money on the day, adding $9 million, while BlackRock's IBIT lost $269.7 million and Grayscale's GBTC shed $39.1 million. Net assets across the complex stand at $93.7 billion, about 6.24% of Bitcoin's total market value, led by IBIT at $58.7 billion, Fidelity's FBTC at $13.0 billion and GBTC at $9.2 billion. Combined turnover came to $2.27 billion in spot trading, with IBIT alone supplying $1.79 billion, FBTC $229.1 million and GBTC $104.9 million. Cumulative net inflows since the January 2024 launch remain at $55.1 billion.

COINOTAG's own readings frame where the market stood while the flows were tallied. The spot price sat at $73,652 at the time of writing, a touch above Wednesday's close and 0.3% lower over 24 hours. The strongest support below sits at $73,211, scored 94 out of 100 on our composite, while the nearest resistance at $74,662 scored 87; the full level map is in our Bitcoin technical analysis. Momentum stays weak, with the RSI at 34.1 and the trend still classified as a downtrend. Positioning has not turned defensive: open interest holds near $15.2 billion and long accounts outnumber short accounts 3.06 to 1. The Fear and Greed Index reads 28 out of 100, in fear territory. Our earlier coverage tracked a 30-day stablecoin drain of $14.2 billion and a treasury buy-sell ratio below 90%, readings that sit alongside this week's redemption pattern. A decisive close below $73,211, or a rejection at $74,662, would be the first thing to change that picture.

IBIT Carries the Redemptions

The withdrawal is concentrated in a single fund. IBIT accounted for $269.7 million of Wednesday's total, and roughly three-quarters of the $1.44 billion taken out over the five sessions. Its own daily path ran from $105 million on Nov. 5 to $403 million on Nov. 6, then $213.2 million on Monday, $78.2 million on Tuesday and $269.7 million on Wednesday, a five-day tally of $1.07 billion. The pressure predates this week as well: IBIT recorded a $405.3 million outflow on Nov. 2, its largest single-day figure since June. These are client redemptions rather than BlackRock selling from its own holdings, but shrinking assets feed directly into the management fees the product earns. Most other funds recorded no flows at all on Wednesday, which makes the streak look less like a broad exit from Bitcoin (BTC) exposure and more like a small number of large holders trimming one position. Fidelity's FBTC, the second-largest fund, was flat on the day after a $36.8 million outflow on Tuesday. IBIT's cumulative inflows since launch still stand at $64.5 billion.

Morgan Stanley's MSBT Keeps Taking Inflows

Morgan Stanley's MSBT is the outlier on the other side of the ledger. The fund drew inflows on Monday, Tuesday and Wednesday, about $51 million across the three days and $86.5 million since listing, a modest sum next to IBIT's losses but one that points to demand shifting between products rather than disappearing. The older vehicles keep leaking: GBTC posted another $39.1 million outflow on Wednesday, taking its cumulative outflow since conversion to $2.81 billion, and the five-day totals show FBTC down $193.9 million, ARK Invest and 21Shares' ARKB down $48.9 million, Franklin Templeton's EZBC down $32.9 million and VanEck's HODL down $23.6 million. November's outflows have reached $1.88 billion so far, against $515.9 million for the whole of October. Set against the $55.1 billion cumulative inflow base, the week remains a dent rather than a collapse, and the structure beneath it is where it was: IBIT still leads on assets, and at least one fund is still finding buyers each day.