by Coinstrooper Crypto Articles
Quick Take
  • Bitcoin (BTC) ETF outflows stretched to a fifth straight day on Wednesday, with $299.8 million leaving US spot funds.
  • BlackRock’s iShares Bitcoin Trust (IBIT) took almost all of the hit.
  • Most of the money is leaving a single fund, which leaves BTC short of one of its steadiest buyers.
  • Five days of withdrawals have drained about $1.44 billion from the funds, according to Farside Investors.

What Happened

Five days of withdrawals have drained about $1.44 billion from the funds, according to Farside Investors.

Seen from a distance, the damage looks contained. The funds still hold about $55 billion in net inflows since their 2024 launch.

Market Context

Bitcoin (BTC) ETF outflows stretched to a fifth straight day on Wednesday, with $299.8 million leaving US spot funds. BlackRock’s iShares Bitcoin Trust (IBIT) took almost all of the hit.

The selling is not spread evenly. Most of the money is leaving a single fund, which leaves BTC short of one of its steadiest buyers.

Why It Matters

That is small next to IBIT’s losses. However, it suggests institutional demand has not disappeared, only shifted.

Against that base, this week’s selling is a dent rather than a collapse. Whether IBIT’s clients stop redeeming will likely shape ETF demand heading into year-end.

Details

Why Is BlackRock’s IBIT Carrying the Bitcoin ETF Outflows?

Roughly three-quarters of that money came out of IBIT.

This week has been especially lopsided. About $596 million left the funds since Monday, and nearly all of it came from IBIT.

Wednesday showed the pattern clearly. Most funds recorded no flows at all, while IBIT alone lost $269.7 million.

The pressure did not start this week, either. IBIT recorded a $405.3 million IBIT outflow on Nov. 2, its largest since June.

These are client redemptions, not BlackRock selling its own BTC. Still, shrinking assets cut directly into the firm’s fee income.

Who Is Still Buying Bitcoin ETFs?

Morgan Stanley’s Bitcoin Trust (MSBT) is the exception.

The fund drew fresh money on Monday, Tuesday, and Wednesday. Together, those three days brought in about $51 million.

Older products are still leaking. Grayscale Bitcoin Trust (GBTC) posted another outflow on Wednesday, continuing its long slide since conversion.

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