Bitcoin ETFs lost $430 million as Fidelity reversed course

A positive day for US spot Bitcoin ETFs gave way to a $430.2 million withdrawal. Fidelity’s fund accounted for most of the swing between sessions, while BlackRock’s fund recorded outflows on both days. The individual funds show how quickly one positive headline can obscure a mixed market. Summary US spot Bitcoin ETFs took in $74.6 million on 4 November, then recorded $430.2 million in net withdrawals on 5 November as several funds lost money. Fidelity’s FBTC went from a $236.7 million inflow to a $199.9 million outflow, a $436.6 million swing across two sessions. Fidelity accounted for about 86.5% of the change between the sessions and about 46.5% of the second day’s net withdrawals. BlackRock’s IBIT lost money on both days, but its withdrawals fell from $201.2 million to $105 million even as the industry total worsened. The first four November sessions produced $869.8 million in net outflows, with Wednesday’s inflow reversing only part of the preceding withdrawals. US spot Bitcoin ETFs have gone from a $74.6 million net inflow to a $430.2 million net outflow in one session, with Fidelity’s fund responsible for most of the change. Farside Investors’ fund-level figures show that Fid...