US Spot Bitcoin ETFs Post $185 Million Outflow as Streak Hits Seven Days

US spot Bitcoin ETFs bled $185.4 million in net outflows on November 13, extending the losing streak to seven consecutive trading days, according to flow data tracked by Farside Investors. Over the full streak, the products have shed roughly $1.91 billion, and cumulative November outflows now exceed $2 billion month-to-date.

The concentration is the detail practitioners should register. BlackRock's iShares Bitcoin Trust (IBIT) accounted for $143.5 million of the day's withdrawals, while Fidelity's Wise Origin Bitcoin Fund (FBTC) contributed $41.9 million. Together the two funds explain the entire $185.4 million. Every other spot Bitcoin ETF in the US complex reported zero net flows for the session.

Ethereum ETFs, by contrast, recorded a small net inflow of approximately $2.3 million to $2.36 million, depending on the tracker. That figure is a footnote against the Bitcoin drain rather than evidence of rotation, but in a week defined by redemptions it stands out.

What does the concentration tell us?

When the two largest products account for 100% of a day's outflows while every other fund posts flat flows, the selling appears to originate from a specific class of holder rather than a broad-based exodus across the market. The research findings accompanying the flow data describe growing wariness among institutional investors, driven by volatility and uncertainty around Bitcoin's price in recent weeks. Bitcoin traded in a range of $68,000 to $73,000 through the period.

The relative scale also matters. November 13's $185.4 million outflow represents less than a tenth of the $1.91 billion shed across the seven-day run, which indicates the heaviest redemptions came earlier in the streak. The daily pace has slowed even as the streak lengthens.

How large is the drain against lifetime inflows?

US spot Bitcoin ETFs launched in January 2024 and have accumulated net inflows of approximately $54.8 billion to $55 billion since inception. The current seven-day drain of roughly $1.91 billion equals under 4% of that lifetime total. Put in per-year terms, the streak erased less than two weeks of the average inflow pace these products enjoyed during their accumulation phase.

That cumulative base has held up despite repeated outflow streaks throughout 2026. For allocators, the practical question is whether concentrated IBIT and FBTC redemptions mark a tactical de-risking by a narrow holder group or the leading edge of a broader institutional retreat. One day of data cannot settle it.

The Ethereum side offers a marginal counter-signal. The research notes the modest inflows may hint at a shift in sentiment toward other crypto assets, though a $2.36 million gain against a $185.4 million Bitcoin loss is not a rotation by any measurable standard.

What comes next?

Watch whether the outflow concentration stays confined to IBIT and FBTC. A spread of redemptions across the full fund complex would signal broad-based institutional de-risking; continued concentration would support the narrower-holder thesis. Either way, the streak's total against the $55 billion lifetime inflow base remains, for now, a rounding error rather than a structural break.

By Nathan Brooks