US spot Bitcoin ETFs shed $2.35 billion in two weeks

3 min

US spot Bitcoin ETFs have logged a second straight week of net withdrawals above $1 billion, extending a run of seven consecutive redemption days and reducing a visible source of market buy-side support. The figures cover the week ending Friday, November 13, and reflect net flows, not price-driven changes in fund valuations.

Seven straight negative sessions add up

According to The Block’s analysis of SoSoValue data, US spot Bitcoin ETFs saw approximately $1.07 billion in net outflows for the week. The prior week recorded around $1.28 billion, bringing the two-week total to $2.35 billion. Seven consecutive negative sessions accounted for roughly $1.91 billion of the retreat.

Withdrawals were spread across the week: Monday through Friday all ended in the red, with Wednesday and Thursday heavier than other days. NewsBTC reported the earlier five-day streak; full-week data confirms flows had not turned positive by Friday.

BlackRock’s fund carried much of Friday’s pressure

On Friday, net withdrawals totaled about $185.5 million: BlackRock’s iShares Bitcoin Trust (IBIT) accounted for approximately $143.5 million and Fidelity’s FBTC for about $41.9 million, while other tracked funds reported no net flows. Investors frequently use the largest and most liquid ETFs to adjust exposure rapidly.

Flow data does not identify holder types or motives. Portfolio rebalancing, risk management, and macro hedging can produce similar aggregate outflow patterns.

Flows matter, but they are not the whole market

Bitcoin trades continuously in spot and derivatives venues, while US-listed ETFs operate during market hours. Creation and redemption link ETF shares to underlying Bitcoin, making ETF flows a useful window into demand, not a full market map. Large holders can add exposure outside ETFs even while funds register net outflows.

Differentiate withdrawals from valuation moves: a falling Bitcoin price reduces ETF assets under management without redemptions, and inflows can occur during a declining market. Treat these measures separately for clearer analysis.

What could break the streak?

Return of positive daily net flows in the next US trading week.
Broad-based inflows across multiple ETFs, indicating participation from more than one investor cohort.
Price stability without significant ETF buying, which would signal demand from other channels.

The institutional picture extends beyond daily ETF flows. Actions affecting companies such as Strategy and Metaplanet show how benchmarks and portfolio rules shape crypto-linked exposure. The current run of outflows signals weaker near-term appetite, not evidence that the long-term ETF market has failed.

Written by the News Desk and edited by Samuel Rae.