Bitcoin ETFs Bleed $1.44B in Five Days as BlackRock's IBIT Takes the Hit

U.S. spot Bitcoin ETFs have now posted five consecutive days of withdrawals, bleeding approximately $1.44 billion. Wednesday was the heaviest single session in that run, with $299.8 million leaving the funds and BlackRock's IBIT accounting for $269.7 million of it. Nearly three-quarters of the five-day total reportedly came from BlackRock's fund, per Coinpedia.

The pain isn't brand new. IBIT logged a $405.3 million outflow on Nov. 2, its largest since June. Those are client redemptions, not BlackRock liquidating its own holdings.

Not every fund is leaking. Morgan Stanley's Bitcoin Trust (MSBT) drew in about $51 million across Monday, Tuesday and Wednesday. Grayscale Bitcoin Trust (GBTC) kept recording withdrawals. Even after the selling, spot funds still hold around $55 billion in cumulative net inflows since their 2024 launch.

On-chain analyst Willy Woo isn't calling it a bear cycle yet. He argues fear only becomes a genuine bear-market signal when prices keep printing fresh lows, and in his words, we've never seen fear in a bear market unless new lows are being made — and we are far from making new lows. With the Bitcoin Fear and Greed Index sliding from greed into fear, Woo reads the sentiment shift as a possible buying opportunity.

Santiment's numbers are less forgiving. Bearish comments on BTC, ETH and XRP currently outweigh bullish ones. Wall Street's fear gauge also spiked after a sharp Nasdaq selloff, adding pressure to an already jittery crypto market.