Key Takeaways
- • U.S. crypto ETFs recorded more than $540 million in net withdrawals on Thursday, November 5, according to The Block, with spot Bitcoin ETFs accounting for $430.2 million of that total.
- • Fidelity's FBTC posted the largest listed Bitcoin ETF outflow at $199.9 million, and BlackRock's IBIT lost $105 million; together they represent about 71% of Thursday's Bitcoin ETF withdrawals.
- • Thursday's reversal followed a $74.6 million net inflow into spot Bitcoin ETFs on Wednesday, and the week-to-date Bitcoin ETF net outflow through Thursday stood at $869.8 million.
- • The outflows coincided with a sharp equity selloff in which the Nasdaq Composite fell 5.5% and the S&P 500 dropped about 4.4%, though the reporting does not establish that the stock decline caused the redemptions.
- • Bitcoin traded at $75,801 as of 18:49 UTC on November 6, down 0.42% over 24 hours, per CoinGecko, after falling from above $80,000 on Wednesday.
Summary
U.S. crypto exchange-traded funds recorded more than $540 million in withdrawals on Thursday, November 5, according to The Block, which reported the aggregate figure without a full product-by-product breakdown across all crypto funds. Spot Bitcoin ETFs accounted for $430.2 million of the outflows. Decrypt, citing Farside Investors, reported that no fund in its Thursday Bitcoin ETF flow table recorded a positive net flow, although several had no net movement.
Fidelity's Wise Origin Bitcoin Fund (FBTC) had the largest listed withdrawal at $199.9 million. BlackRock's iShares Bitcoin Trust (IBIT) lost $105 million, and together the two funds made up about 71% of Thursday's Bitcoin ETF outflows. Grayscale's GBTC lost $49.9 million and Franklin Templeton's EZBC shed $32.9 million. These four named funds total $387.7 million, with the remainder spread across other products in the table. Fund-level net figures reflect creations minus redemptions and do not show whether individual sellers exited Bitcoin exposure or moved to another product.
Thursday's reversal followed a $74.6 million net inflow into U.S. spot Bitcoin ETFs on Wednesday, which itself came after a $643.2 million outflow the prior Friday. On Wednesday, FBTC took in $236.7 million while IBIT lost $201.2 million, extending a five-session withdrawal streak that began October 30 and reached roughly $1.04 billion. Through Thursday, the week's Bitcoin ETF net outflow totaled $869.8 million, a figure that already includes Thursday's activity.
The outflows came as the Nasdaq Composite fell 5.5% and the S&P 500 dropped about 4.4%, with chipmakers and data-center stocks leading declines amid investor questions about the pace of artificial-intelligence spending and potential restrictions after the U.S. midterm elections. Bitcoin fell toward $76,000 after trading above $80,000 on Wednesday, with short liquidations having helped fuel the earlier rise, according to Decrypt. The reporting notes that the timing links the ETF withdrawals with a broad retreat in risk assets but does not establish causation, and flow data cannot determine whether holders were raising cash, trimming Bitcoin exposure, or rebalancing.
Bitcoin was trading at $75,801 as of 18:49 UTC on November 6, down 0.42% over 24 hours, according to CoinGecko. A single day's net flows do not establish a durable trend, and a daily outflow can be followed by an inflow, as Wednesday's result showed. For comparison, on September 4, 2024, spot Bitcoin ETFs recorded $287.8 million in withdrawals, the largest single-day outflow since May 1 at that time, when the products collectively managed around $50 billion in assets. That episode occurred in a different period and is not a like-for-like comparison with Thursday's figures.
Fidelity's Wise Origin Bitcoin Fund (FBTC) had the largest listed withdrawal at $199.9 million. BlackRock's iShares Bitcoin Trust (IBIT) lost $105 million, and together the two funds made up about 71% of Thursday's Bitcoin ETF outflows. Grayscale's GBTC lost $49.9 million and Franklin Templeton's EZBC shed $32.9 million. These four named funds total $387.7 million, with the remainder spread across other products in the table. Fund-level net figures reflect creations minus redemptions and do not show whether individual sellers exited Bitcoin exposure or moved to another product.
Thursday's reversal followed a $74.6 million net inflow into U.S. spot Bitcoin ETFs on Wednesday, which itself came after a $643.2 million outflow the prior Friday. On Wednesday, FBTC took in $236.7 million while IBIT lost $201.2 million, extending a five-session withdrawal streak that began October 30 and reached roughly $1.04 billion. Through Thursday, the week's Bitcoin ETF net outflow totaled $869.8 million, a figure that already includes Thursday's activity.
The outflows came as the Nasdaq Composite fell 5.5% and the S&P 500 dropped about 4.4%, with chipmakers and data-center stocks leading declines amid investor questions about the pace of artificial-intelligence spending and potential restrictions after the U.S. midterm elections. Bitcoin fell toward $76,000 after trading above $80,000 on Wednesday, with short liquidations having helped fuel the earlier rise, according to Decrypt. The reporting notes that the timing links the ETF withdrawals with a broad retreat in risk assets but does not establish causation, and flow data cannot determine whether holders were raising cash, trimming Bitcoin exposure, or rebalancing.
Bitcoin was trading at $75,801 as of 18:49 UTC on November 6, down 0.42% over 24 hours, according to CoinGecko. A single day's net flows do not establish a durable trend, and a daily outflow can be followed by an inflow, as Wednesday's result showed. For comparison, on September 4, 2024, spot Bitcoin ETFs recorded $287.8 million in withdrawals, the largest single-day outflow since May 1 at that time, when the products collectively managed around $50 billion in assets. That episode occurred in a different period and is not a like-for-like comparison with Thursday's figures.
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