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Spot Bitcoin ETFs Lose $1.2 Billion for the Fourth Consecutive Week
U.S. spot Bitcoin exchange-traded funds recorded another week of net outflows, extending their streak of negative flows to four consecutive weeks.
According to SoSoValue, net outflows from spot Bitcoin ETFs for the week ending November 21 amounted to $1.22 billion, bringing the total four-week outflow to $4.34 billion.
The funds saw daily net inflows of $238.47 million on Friday and $75.47 million on Wednesday, but all other trading days recorded outflows.
Among ETFs, BlackRock’s IBIT fund posted weekly outflows of $1.09 billion — the second-largest weekly outflow on record after the $1.17 billion reported for the week ending February 28. The fund’s largest daily outflow of $523.15 million was recorded last Tuesday.
Last week’s outflows coincided with the largest crypto market correction of the current cycle: on Friday Bitcoin fell to around $82,200 from $95,600 on Monday. The world’s largest cryptocurrency is currently trading near $87,200, up 1.2% over the past 24 hours.
Despite signs of recovery, market structure remains “fragile.” Vincent Liu, CTO at Kronos Research, expects Bitcoin to consolidate in the $85,000–$90,000 range, noting that “liquidity is low and stop orders are being triggered.”
Ether ETFs Increase Weekly Outflows
Meanwhile, net outflows from spot Ethereum ETFs totaled $500.25 million last week — marking the third consecutive week of negative flows. Last Friday, spot Ethereum ETFs saw net inflows of $55.71 million, but the rest of the week recorded outflows.
Spot Solana ETFs saw $128.2 million in inflows last week — up from $46.34 million the week before.
Spot XRP ETFs — XRPC from Canary and XRP from Bitwise — generated $179.6 million in weekly inflows, although the combined weekly total still trails the single-day inflow of $243.05 million into XRPC on November 14, the second trading day.
See also: "Bitcoin: rises to $87,000 after a drop; ETF outflows continue"
