U.S. spot
Bitcoin
exchange-traded funds (ETFs) saw unprecedented outflows totaling $1.11 billion for the week ending November 14. This marked the third week in a row of net redemptions, heightening worries about declining institutional interest. BlackRock’s IBIT accounted for the largest portion, with $532.41 million withdrawn, while Grayscale’s Bitcoin Mini Trust (BTC) experienced nearly $290 million in outflows,
based on SoSoValue data
. These withdrawals occurred as Bitcoin’s value dropped to a six-month low of $95,200, wiping out gains from earlier in the year
as indicated by the same data
.
This visual pattern further illustrates the connection between investor confidence and price changes.
The sell-off intensified on November 13, when Bitcoin ETFs registered their second-highest single-day outflow of $869 million since launching in January 2024
according to market analysis
. Fidelity’s FBTC and Grayscale’s BTC reported redemptions of $120 million and $64 million, respectively, amid heightened market turbulence
as noted in the report
. The total assets managed by Bitcoin ETFs have now dropped to $125.34 billion, which is 6.67% of the cryptocurrency’s overall market value
according to market data
. Experts attribute the recent withdrawals to a mix of macroeconomic uncertainty—especially concerns about delays in Federal Reserve rate cuts—and investors taking profits after Bitcoin’s October surge to $126,000
as per market analysis
.
Simon Gerovich, CEO of Japanese Bitcoin treasury company Metaplanet, stated that ETFs do not necessarily diminish the attractiveness of holding Bitcoin directly. “ETFs offer passive exposure—your BTC position remains unchanged unless there are new inflows,” he posted on X, disputing the idea that ETFs are a threat to treasury firms
as reported
. Przemysław Kral, CEO of European crypto platform zondacrypto, cautioned that low weekend liquidity could amplify price volatility, but pointed out that long-term investors might benefit from lower prices
according to market analysis
.
As Bitcoin ETFs face outflows, new crypto investment products are attracting funds. The launch of the first U.S. XRP ETF on November 13 brought in $243 million,
surpassing initial expectations
.
Solana
(SOL) ETFs also continued to see positive inflows,
with an additional $12 million on November 14
. These trends point to a broader diversification in crypto investment options, with 21Shares and Canary Capital introducing funds focused on multiple coins and memecoins
as highlighted in market reports
.
Some institutions are still increasing their exposure. Harvard University tripled its investment in BlackRock’s IBIT,
holding $442.8 million in shares
as of September 30. Bloomberg’s Eric Balchunas described this as “just 1% of Harvard’s total endowment,”
reflecting a measured optimism for Bitcoin’s long-term prospects
despite recent volatility. Meanwhile,
Ethereum
ETFs continued to see outflows,
with $259 million withdrawn on November 13
— the largest single-day outflow since early November. A visual chart of Bitcoin’s price action will help assess the extent and possible reversal of the current downward trend.
The technical picture for the market remains uncertain. Bitcoin’s decline below $94,000—a level last seen in May—has
sparked debate about whether the sell-off marks a capitulation
. Traders are monitoring key support levels and broader economic developments, such as the resolution of the U.S. government shutdown, for signals on future direction
according to market analysis
.
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