Spot Bitcoin ETFs Experience Outflows, Ending Six-Day Inflow Streak as BTC Price Drops Below $87K

Spot Bitcoin exchange-traded funds in the United States experienced an outflow day on Nov. 14, ending their six-day inflow streak that had brought over $4.73 billion into the funds.

Spot Bitcoin exchange-traded funds in the United States experienced outflows on Nov. 14, putting an end to their six-day inflow streak that saw over $4.73 billion pouring into the funds.

The 12 spot Bitcoin ETFs recorded outflows of $400.67 million on Thursday, according to data from SoSoValue. This marked a reversal from the positive flows experienced over the previous six trading days.

Among the ETFs, Fidelity’s FBTC saw the highest outflows of $179.16 million — its highest outflow day since May 1, when it recorded outflows of $191.16 million.

Outflows from ARK and 21Shares’ ARKB followed with $161.72 million exiting the fund. Bitwise’s BITB also contributed to the outflows with a record outflow of $113.94 million — its highest since launch day. Grayscale’s GBTC and Mini Bitcoin Trust saw outflows of $69.59 million and $5.28 million, respectively.

However, out of the虧损flows, BlackRock’s IBIT recorded net inflows of $1.236 billion in a six-day streak, bringing over $3.2 billion into the fund.

According to Bloomberg analyst Eric Balchunas, IBIT has already amassed over $40 billion in assets under management in just 211 days after its launch. This achievement places IBIT among the top 1% of all exchange-traded funds by AUM, outpacing all 2,800 ETFs that have been introduced in the past decade. At only 10 months old, IBIT has also managed to outpace the iShares Gold Trust, its gold ETF counterpart which currently has about $33.41 billion in assets.

VanEck’s HODL saw outflows of $2.5 million on Thursday, while the remaining ETFs saw zero flows on the day.

The total trading volume for the 12 BTC ETFs stood at $4.82 billion on Nov. 14, lower than the record-breaking outflows of $8.07 billion on the previous day.

The outflows from Bitcoin ETFs came as the price of Bitcoin (BTC) dropped below $87,000 on Friday. This followed remarks from Federal Reserve Chair Jerome Powell that there was no urgency to implement interest rate cuts, leading to a decrease in the token’s value that left it about $6,500 shy of its record high of $93,477 on Nov. 13.

Ether ETFs log $3.24M in outflows

The nine spot Ether ETFs also experienced outflows on Nov. 14, with outflows of $3.24 million, putting an end to their six-day inflow streak.

The majority of outflows were seen on Grayscale’s ETHE with $21.9 million in outflows on Friday. Outflows from VanEck’s ETHV stood at $1.14 million.

BlackRock’s ETHA and VanEck’s QETH helped offset some of the outflows with inflows of $18.87 million and $929.01K, respectively.

The nine ETFs had a cumulative total net inflow of $238.27 million on Thursday.

At the time of writing, Ether (ETH) is down 6.2% over the past day, trading at $3,067, while Bitcoin is down 2.8% on the day, exchanging hands at $87,971 per coin