One BlackRock fund dominates Bitcoin’s billion-dollar ETF exodus

BlackRock's iShares Bitcoin Trust ETF (IBIT) accounted for 94% of US spot Bitcoin ETFs' net withdrawals in the completed November 2-6 week, leaving one fund responsible for most of the category's retreat. That leaves the next recovery test focused on one fund: can IBIT’s withdrawals slow? The 12 funds tracked by Farside Investors recorded weekly net outflows of $1,282 million. IBIT recorded net outflows of $1,210 million. Fidelity's Wise Origin Bitcoin Fund (FBTC) moved in the opposite direction, recording weekly net inflows of $93 million. IBIT's share was 94.4% of the aggregate net withdrawal, after positive flows elsewhere offset part of the withdrawals. The denominator is net fund flows across the group, not gross redemptions or all Bitcoin selling.

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