Bitcoin ETF outflows reach $1.6bn in November as equity funds draw buyers

Key points

• US spot Bitcoin ETFs recorded $95m in net outflows on 10 November, taking November's total to about $1.6bn, per SoSoValue.
• BlackRock's IBIT lost $78m on 10 November, its eighth straight session of outflows, totalling about $1.73bn over the streak, according to Farside Investors.
• CryptoQuant's Bitcoin Bull Score Index fell to 20 on 9 November from 90 on 13 Oct, with apparent demand down 284,000 BTC over 30 days.

US spot Bitcoin ETF outflows reached about $1.6bn since the start of November after $95m in net withdrawals on Tuesday, Cointelegraph reports, citing SoSoValue data. Over the same pullback, stock funds took in billions of dollars from investors buying the dip.

US-listed ETFs drew roughly $12bn a day over those sessions, with Vanguard's S&P 500 ETF, Invesco's Nasdaq-100 ETF and BlackRock's iShares Core S&P 500 ETF among the biggest beneficiaries.

BlackRock's iShares Bitcoin Trust recorded $78m in net withdrawals on 10 November, its eighth consecutive session of outflows. Farside Investors data put the fund's losses over that streak at about $1.73bn. Morgan Stanley's Bitcoin Trust ETF attracted $20m on 10 November, too little to offset the wider losses.

Daily Bitcoin ETF outflows slowed from $430m on 5 November and $412m on Friday to $201m on Monday and $95m on Tuesday. CryptoQuant flagged $73,200 as a key support level.

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