Fidelity's FBTC Leads Bitcoin (BTC) ETFs Back to Inflows With $236.7 Million

Bitcoin (BTC) ETFs Take In $74.6 Million

United States spot Bitcoin (BTC) exchange-traded funds (ETFs) returned to net inflows on Wednesday, November 4, taking in $74.6 million after four straight trading sessions of net outflows, according to the issuers' daily creation and redemption disclosures. The turn arrived with the Bitcoin price at $80,504, up 3.7% over the past 24 hours, and one session after the market's rebound toward $81,000 faced its decisive test. The print put the Bitcoin funds back on the buy side for the first time in four trading days, a stretch in which redemptions had outweighed creations each session.

Wednesday's split among issuers was lopsided. Fidelity's FBTC led the complex with $236.7 million of creations, more than three times the complex-wide net. BlackRock's IBIT, the largest fund in the complex by assets, ran the other way: $201.2 million left the fund, the only large redemption of the day. ARK Invest's ARKB added $19.9 million, Bitwise's BITB took $15.2 million and Invesco's BTCO $4.0 million, completing the disclosed ledger. Outside IBIT, every issuer on the ledger sat on the creations side. A spot Bitcoin (BTC) ETF grows when an authorized participant creates new shares, a process that has the issuer buying bitcoin in the market on the fund's behalf; redemptions work in reverse and release coins for sale. Issuers file the daily figures after each US session closes, which makes them the primary record of demand through ETF wrappers. Wednesday's $74.6 million net was therefore the residue of two large opposing orders, a $236.7 million buy from Fidelity and a $201.2 million sell from BlackRock, largely cancelling each other out. Read that way, the day says as much about which wrapper individual allocators chose as about total demand: had the IBIT redeemer sold out of FBTC instead, the same money would have printed as a near-flat session.

Ethereum Funds End a Seven-Day Run

The same disclosures showed the Ethereum side turning on the same day. US spot Ethereum ETFs took in $53.0 million, closing out seven consecutive sessions of net outflows. BlackRock's ETHA led with $32.8 million and Fidelity's FETH added $19.2 million, while Grayscale's two products, the Mini trust and the original ETHE, took in $13.6 million and $9.7 million respectively. VanEck's ETHV added $1.0 million. The only Ethereum outflow came from BlackRock's staking product ETHB, which shed $22.4 million on the very day its complex turned, a reminder that these flows are decided share class by share class, not in aggregate. Outside ETHB, every issuer on the Ethereum ledger took creations, from the largest share class to the smallest.

The synchronization is the wider story: both complexes printed net creations for the first time in at least seven trading sessions, the longer of the two runs having stretched from late October into the first days of November. Grayscale's ETHE taking in $9.7 million stands out, given the trust's history of continuous redemptions since its conversion. ETF creations, though, remain one demand channel among several. Corporate treasuries and sovereign-style buyers pursuing a strategic Bitcoin reserve accumulate through a different route, and their purchases never appear in these daily disclosures. Nor can the prints reveal intent: whether the day's creations reflect short-term positioning or an intent to HODL through the cycle is invisible in the data. A single positive session does not establish a trend either, and runs of four and seven days are long enough that one print cannot be read as regime change on its own. What the record does show is direction: for one session at least, both complexes pointed the same way, on a rebound that had already unwound a wave of crypto liquidations.

Resistance Sits at $82,216

The technical analysis backdrop to the flow turn is rangebound. COINOTAG's composite scoring, which grades each price level from 0 to 100 on the indicators that meet there, sets the strongest resistance overhead at $82,216 (98/100, built on the SMA 50 and the Ichimoku Cloud top) and the strongest support below at $77,820 (95/100). Spot sits at $80,504 between the two, up 3.7% in 24 hours. Derivatives positioning is unhurried: perp funding prints at 0.0071% and open interest stands at $16.2 billion. Sustained creations would be needed to break $82,216; a return to redemptions would put $77,820 back in play. The $74.6 million print, finally, is an inflow day only within a four-session outflow run: with IBIT's $201.2 million redemption standing against Fidelity's take, one issuer's next disclosure can flip the sign again.