Bitcoin ETFs See $1.3 Billion Weekly Outflows, Largest Since June

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure U.S. spot Bitcoin ETFs (exchange-traded funds) recorded $1.28 billion in net outflows last week, marking their largest weekly withdrawals since late June. The heavy redemptions pushed year-to-date net outflows for the funds to approximately $919 million, according to data. This followed $515 million in net outflows during October, extending a period of sustained investor caution. Bitcoin slipped below $76,000 during the week as markets absorbed several overlapping pressures, including the aftermath of Binance’s $6.3 billion security incident, uncertainty following the U.S. midterm elections, and a broader sell-off in technology stocks. BlackRock’s IBIT Accounts for Nearly All Outflows BlackRock’s iShares Bitcoin Trust (IBIT), the largest spot Bitcoin ETFs by assets under management, dominated the weekly flows. The fund saw $1.21 billion in net outflows, representing roughly 95% of the total reported data, according to data from Farside Investors. IBIT extended its outflow streak to six consecutive trading sessions. Since October 30, investors have withdrawn approximately $1.44 billio...