Key Takeaways
- • Bitcoin spot ETFs in the US recorded a fifth straight day of outflows on Wednesday, with $299.8 million leaving the funds, according to BeInCrypto's reporting.
- • Five days of withdrawals have removed about $1.44 billion from US Bitcoin ETFs, per Farside Investors data.
- • BlackRock's iShares Bitcoin Trust (IBIT) accounted for roughly three-quarters of the five-day outflows and lost $269.7 million on Wednesday alone.
- • Morgan Stanley's Bitcoin Trust (MSBT) was the main exception, drawing about $51 million in inflows across Monday through Wednesday.
- • Total net inflows since the funds' 2024 launch remain near $55 billion, so the current selling is described as a dent rather than a collapse.
Summary
Bitcoin exchange-traded funds in the United States extended their outflow streak to a fifth consecutive day on Wednesday, with $299.8 million leaving US spot funds, according to BeInCrypto. The selling has been concentrated in a single product. BlackRock's iShares Bitcoin Trust (IBIT) absorbed almost all of the Wednesday outflows, losing $269.7 million on the day, while most other funds recorded no flows at all.
According to Farside Investors, the five-day withdrawal streak has drained about $1.44 billion from the funds, with roughly three-quarters of that total coming from IBIT. Outflows since Monday total about $596 million, nearly all of it from IBIT. The pressure predates this week: IBIT recorded a $405.3 million outflow on November 2, its largest since June. BeInCrypto notes these are client redemptions rather than BlackRock selling its own bitcoin, although shrinking assets reduce the firm's fee income.
Morgan Stanley's Bitcoin Trust (MSBT) was the notable exception, attracting inflows on Monday, Tuesday and Wednesday totaling about $51 million. While small relative to IBIT's losses, the report suggests institutional demand has shifted between products rather than disappeared. Grayscale Bitcoin Trust (GBTC), which has experienced a prolonged slide since its conversion, posted another outflow on Wednesday.
The funds still hold about $55 billion in net inflows since their 2024 launch. BeInCrypto characterizes this week's selling as a dent rather than a collapse, and says whether IBIT's clients stop redeeming will likely shape ETF demand heading into year-end.
According to Farside Investors, the five-day withdrawal streak has drained about $1.44 billion from the funds, with roughly three-quarters of that total coming from IBIT. Outflows since Monday total about $596 million, nearly all of it from IBIT. The pressure predates this week: IBIT recorded a $405.3 million outflow on November 2, its largest since June. BeInCrypto notes these are client redemptions rather than BlackRock selling its own bitcoin, although shrinking assets reduce the firm's fee income.
Morgan Stanley's Bitcoin Trust (MSBT) was the notable exception, attracting inflows on Monday, Tuesday and Wednesday totaling about $51 million. While small relative to IBIT's losses, the report suggests institutional demand has shifted between products rather than disappeared. Grayscale Bitcoin Trust (GBTC), which has experienced a prolonged slide since its conversion, posted another outflow on Wednesday.
The funds still hold about $55 billion in net inflows since their 2024 launch. BeInCrypto characterizes this week's selling as a dent rather than a collapse, and says whether IBIT's clients stop redeeming will likely shape ETF demand heading into year-end.
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