U.S. spot Bitcoin exchange-traded funds finished the November 2–6 trading week with $1.2817 billion in net withdrawals, according to a calculation from Farside Investors’ daily fund data. Friday added a $411.9 million outflow, leaving the category negative in four of the week’s five sessions.

The concentration of the withdrawals matters. BlackRock’s iShares Bitcoin Trust ETF, or IBIT, recorded $1.2095 billion of net outflows across the five days. The other tracked products together lost $72.2 million, showing that the headline total was dominated by one fund rather than evenly distributed across the market.

Related reporting: Bitcoin ETFs Lose $643M as Friday Outflows Turn Week Negative

Friday extends a difficult week

IBIT accounted for $403 million of Friday’s withdrawals. Fidelity’s FBTC attracted $42.8 million, partly offsetting redemptions elsewhere. Wednesday was the week’s only positive session, with $74.6 million in category inflows, before renewed withdrawals on Thursday and Friday.

These are reported net flows for completed U.S. trading sessions, checked on November 7. Farside’s table is updated automatically and can be revised, so the figures should be read as a dated snapshot rather than a permanent final accounting.

IBIT remains a large Bitcoin holding vehicle

BlackRock’s fund page listed approximately $60.70 billion in net assets and 1.416 billion shares outstanding as of November 6. It reported net asset value of $42.87 per share, down 0.35% for that day. Those measures describe the remaining fund and its valuation; they should not be confused with the amount of money withdrawn.

IBIT seeks to track Bitcoin’s price through an exchange-traded vehicle. Its sponsor notes that it is not registered under the Investment Company Act of 1940 and does not have the same regulatory requirements as funds that are. Holding a familiar brokerage-listed product therefore does not remove the underlying asset’s volatility or product-specific risks.

What the figures can establish

The week’s data show that this route into Bitcoin faced net redemptions. They do not identify the ultimate investors, explain their trading strategies or establish that a particular political or economic headline caused the selling. Secondary-market trading volume, changes in fund assets and net fund flows measure different things.

For the next trading week, the useful comparison is whether withdrawals persist across several sessions and spread beyond the largest product. A single rebound day would offer less evidence of a change in demand than a sustained shift across funds. The weekly total is a measure of recent positioning, not a forecast of Bitcoin’s next price move.

Prepared with AI assistance. The lead image is an AI-generated conceptual illustration, not a photograph of an actual event.