Key Takeaways
- • Spot Bitcoin ETF net outflows slowed to $95M on November 10 from $201M the prior session, the fourth consecutive negative day for the group, according to TradingNEWS data.
- • The iShares Bitcoin Trust (IBIT) accounted for $1.50B of the group's $1.58B in November outflows but still holds $64.84B in lifetime net inflows and $62.3B in assets.
- • IBIT rose 1.10% to $42.14 on November 11, holding above its $41.10 low of the month and its $41.15 200-day average, on relative volume of 0.74.
- • TradingNEWS identifies $41.10 as support and $45.70 as an upside target, about 8.4% above the current price, while IBIT is down 15.13% year to date.
- • US spot Bitcoin ETFs have recorded roughly $1.1B to $1.2B of net outflows in 2026, versus about $25B of inflows by early November in each of 2024 and 2025, putting the year on track for its first net-outflow year.
Summary
The iShares Bitcoin Trust traded at $42.14 on Nasdaq at 3:35 p.m. Eastern on Wednesday, November 11, up $0.46, or 1.10%, from Tuesday's close of $41.68. The fund's Tuesday session set the monthly low of $41.10 after a 1.51% decline. Per TradingNEWS, the rebound came on below-average volume, with 33.25 million shares traded by mid-afternoon against a 30-day average of 47.77 million, a pattern the publication associates with a short-covering bounce rather than new buying.
The rebound came against heavy redemptions. US spot Bitcoin ETFs lost $95M on November 10, down from $201M on November 9, with IBIT's redemptions falling from $213.2M to $78.2M over the same period. The group has recorded $1.58B in November outflows with no net-inflow session so far this month. IBIT's streak of outflows since October 30 totals $1.74B over eight sessions, equal to about 2.8% of its current $62.3B in assets. Its assets fell from $67.06B on November 2, with roughly $1.5B of the $4.76B decline attributed to redemptions and the remainder to lower Bitcoin prices.
TradingNEWS also points to a divergence within the group. Morgan Stanley's MSBT recorded net inflows of $22M on November 9 and $20.0M on November 10, the only fund with new money on both days, while the rest of the group lost $338M across those sessions. Fidelity's FBTC, ARKB and Bitwise's BITB recorded smaller outflows. The publication argues that steady wealth-channel allocations could eventually replace institutional selling as the dominant flow.
On the longer view, IBIT is down 7.04% over the past week, 10.59% over the past month and 27.78% over 12 months, sitting 29.2% below its 52-week high of $59.56. Cumulative US spot Bitcoin ETF net inflows stand at $55.5B, while net assets total $92.8B. TradingNEWS notes that 2026 is on track for its first net-outflow year, a $26.2B swing from the inflows recorded in 2024 and 2025, and that December flows will determine whether the year finishes flat or negative. The fund's net asset value was $42.31, with a 0.03% discount to NAV, and implied Bitcoin pricing near $74,300.
The rebound came against heavy redemptions. US spot Bitcoin ETFs lost $95M on November 10, down from $201M on November 9, with IBIT's redemptions falling from $213.2M to $78.2M over the same period. The group has recorded $1.58B in November outflows with no net-inflow session so far this month. IBIT's streak of outflows since October 30 totals $1.74B over eight sessions, equal to about 2.8% of its current $62.3B in assets. Its assets fell from $67.06B on November 2, with roughly $1.5B of the $4.76B decline attributed to redemptions and the remainder to lower Bitcoin prices.
TradingNEWS also points to a divergence within the group. Morgan Stanley's MSBT recorded net inflows of $22M on November 9 and $20.0M on November 10, the only fund with new money on both days, while the rest of the group lost $338M across those sessions. Fidelity's FBTC, ARKB and Bitwise's BITB recorded smaller outflows. The publication argues that steady wealth-channel allocations could eventually replace institutional selling as the dominant flow.
On the longer view, IBIT is down 7.04% over the past week, 10.59% over the past month and 27.78% over 12 months, sitting 29.2% below its 52-week high of $59.56. Cumulative US spot Bitcoin ETF net inflows stand at $55.5B, while net assets total $92.8B. TradingNEWS notes that 2026 is on track for its first net-outflow year, a $26.2B swing from the inflows recorded in 2024 and 2025, and that December flows will determine whether the year finishes flat or negative. The fund's net asset value was $42.31, with a 0.03% discount to NAV, and implied Bitcoin pricing near $74,300.
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