US Spot-Bitcoin ETFs See $1.282 Billion in Weekly Outflows, Led by BlackRock - bloomingbit

US spot-Bitcoin exchange-traded funds experienced substantial outflows during the November 2-6 period, with total net outflows reaching $1.282 billion. The trend reflects ongoing market uncertainty despite Bitcoin's recent price movements.

BlackRock's iShares Bitcoin Trust (IBIT) led the outflows, with $1.209 billion withdrawn, accounting for approximately 94% of the total Bitcoin ETF outflows. This significant withdrawal underscores the challenges institutional investors currently face with Bitcoin exposure.

Ether ETFs Continue Decline

US spot-Ether ETFs extended their streak of net outflows to six consecutive weeks, with $365 million withdrawn last week. The sustained outflow pattern indicates that institutional demand for Ether exposure has yet to recover.

Combined net outflows from both spot-Bitcoin and spot-Ether ETFs reached $1.647 billion last week, highlighting a broader trend of reduced institutional interest in cryptocurrency ETFs. Market analysts will be watching whether this pattern continues in the coming weeks.