US Bitcoin (BTC) ETFs Post $185.4 Million Net Outflow in Seventh Straight Session

The twelve US spot exchange-traded funds holding Bitcoin (BTC) posted a combined net outflow of about $185.4 million on Friday, November 13, the seventh consecutive session in which redemptions outpaced creations. Net outflow means investor redemptions exceeded creations, new shares issued against fresh cash; because a spot fund holds coins in custody, sustained redemptions mechanically take coins off the fund's books. Daily creation and redemption disclosures from the issuers are the primary record of that movement, and on Friday not one of the twelve products took in money. BlackRock's IBIT drove the withdrawal at $143.5 million, Fidelity's FBTC followed at $41.9 million, and the remaining ten funds were flat. No inflow day has interrupted the current run: all seven sessions since November 5 printed red, removing roughly $1.91 billion from the complex in that window. The five sessions from November 9 through November 13 alone account for $1.07 billion of the streak. The print extends a stretch of negative Bitcoin ETF flows that began at the start of the month. Bitcoin price sits at $67,084, down 2.05% over the past 24 hours and essentially unmoved since the flow data published. The month-to-date tally through November 13 stands at $2.35 billion, against $515.9 million for the whole of October, so November has already exceeded October's full-month figure more than four times over. Since the funds listed in January 2024, cumulative net inflows hold near $54.6 billion; within that total, BlackRock's IBIT has absorbed $64.19 billion, the largest single accumulation in the lineup, while Grayscale's GBTC has shed $28.11 billion, the residue of its conversion from a closed-end trust.

Friday's outflow is also the smaller one: aggregate flow data puts the daily figure roughly 35% below the prior session, when about $284 million left the funds in a sixth straight session. Only two of the twelve products were in the red on the day, IBIT and FBTC, leaving ten funds with zero net creations or redemptions. The five-session ledger from November 9 through November 13 shows where the pressure has concentrated:

• BlackRock's IBIT: $908.4 million out, the largest five-day figure in the lineup
• Fidelity's FBTC: $111.3 million out
• Grayscale's GBTC: $39.1 million out
• ARK 21Shares' ARKB, Bitwise's BITB and VanEck's HODL: $28.4 million, $26.4 million and $6.1 million out respectively
• Morgan Stanley's MSBT: $54.4 million in, the only product with net inflows across the window

IBIT alone accounts for $908.4 million of the $1.07 billion five-day total, so the window is mostly one fund's story; the next largest, FBTC, ran less than an eighth of that amount. Outside FBTC, no losing fund crossed $40 million across the stretch. Both of Friday's sellers are also the two largest funds by assets, so the concentration in the five-day ledger repeats in the daily print, and the seven-session run now averages about $272 million a day in net outflows. Trading followed the same pattern. Turnover across the complex reached $2.59 billion on Friday, with IBIT accounting for $2.06 billion of it, FBTC $230.3 million and GBTC $82.4 million. Net assets across the twelve funds stand at $86.2 billion, about 6.22% of Bitcoin's market capitalization, concentrated in IBIT at $53.99 billion, FBTC at $11.92 billion and GBTC at $8.48 billion. That scale makes the complex the dominant institutional wrapper for exposure to the original proof-of-work asset.

The stress shows in positioning as well. Perpetual funding prints at negative 0.0004%, and long accounts outnumber short accounts 3.66 to 1, a crowded-side skew sitting on top of a downtrend. The Fear and Greed Index reads 13 out of 100, extreme fear. On the composite level map, the strongest support below the market is $65,620, scored 76/100, with the top resistance at $72,645 scored 97/100, the pair our Bitcoin technical analysis tracks through the session. What seven sessions of flow disclosures cannot establish is who redeemed: they record net totals only, and nothing in them distinguishes a whale cutting exposure from an allocator rebalancing a book.