BlackRock and Fidelity Fuel $185.4M Bitcoin ETF Exit, Seventh Straight Down Day

The exits kept coming. US spot Bitcoin ETFs lost $185.4 million in net outflows on November 13, according to flow trackers including Farside Investors, extending the losing streak to seven straight trading days.

Two funds did all the damage. BlackRock's iShares Bitcoin Trust (IBIT) led with $143.5 million pulled out, and Fidelity's Wise Origin Bitcoin Fund (FBTC) followed with $41.9 million. Those two figures add up to the entire day's outflow — every other spot Bitcoin ETF posted zero net flows.

The week has been ugly in aggregate. Across the seven-day run, Bitcoin ETFs shed roughly $1.91 billion, and November outflows have now passed $2 billion month-to-date. All of it unfolded while Bitcoin traded between $68,000 and $73,000.

Ethereum funds offered the only green. ETH ETFs took in roughly $2.3 million to $2.36 million depending on the tracker — a rounding error next to the Bitcoin bleed, but a rare positive print.

The research attributes the selling to growing wariness among institutional investors amid Bitcoin's recent volatility. It also flags the lopsided concentration in IBIT and FBTC: when the two biggest products cover 100% of a day's outflows, the selling looks like it's coming from a specific class of holder rather than a broad exodus.

Context matters here. Spot Bitcoin ETFs launched in the US in January 2024 and have since gathered about $54.8 billion to $55 billion in net inflows, so the current streak amounts to under 4% of lifetime net inflows.