Bitcoin ETFs Lose $411.9M on Friday as BlackRock Drives the Selling

TL;DR: US spot Bitcoin ETFs recorded a net $411.9 million outflow on November 6, according to Farside Investors. BlackRock’s IBIT accounted for $403 million in redemptions, while Fidelity’s FBTC attracted $42.8 million. The split matters more than a simplistic claim that every institutional investor was selling. US Bitcoin exchange-traded funds ended the week with another difficult session. Farside Investors’ November 6 fund table shows $411.9 million leaving the group on a net basis, taking November’s first five trading sessions to approximately $1.28 billion in withdrawals. That is a meaningful reversal from the calmer periods in which ETF creations helped absorb supply. But Friday’s figures tell a more interesting story than the headline total. The redemptions were highly concentrated, and one big issuer moved in the opposite direction.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to NewsBTC.