U.S. Bitcoin spot ETFs are suffering their worst month on record, with about 3.5 billion dollars pulled in November and IBIT alone seeing 2.2 billion dollars in redemptions. Yet lifetime net inflows still stand near 57.6 billion dollars as record trading volumes show investors rapidly rotating in and out of the once-hot products.
Bitcoin Spot ETFs Reach $57.6 Billion Net Inflow as Flows Swing Sharply
U.S. spot Bitcoin ETFs now show a combined 57.6 billion dollars in net inflows, even as money continues to move in and out at a rapid pace, according to the latest Farside Investors flow table. BlackRock’s IBIT leads the pack with about 62.7 billion dollars of cumulative inflows, followed by Fidelity’s FBTC at roughly 11.8 billion dollars. By contrast, the converted GBTC vehicle still carries about 25.0 billion dollars in net outflows, which drags the complex’s overall total lower.
Bitcoin ETF Flow Table. Source: Farside Investors
In the most recent stretch of data, daily flows whipsawed investors. On 18 November, the group took in about 523.2 million dollars, helped by steady buying in the largest funds. However, just two days later, on 20 November, the complex recorded its worst session in the table, with net outflows of roughly 903.2 million dollars as several issuers, led by IBIT and FBTC, saw heavy redemptions. Then, on 21 November, flows flipped back to a positive 238.4 million dollars, signaling that demand quickly returned after the sharp one-day exit.
Across the full sample, spot Bitcoin ETFs have averaged about 122.8 million dollars in net flows per day. The strongest single session brought in roughly 1.37 billion dollars, while the largest daily withdrawal reached about 1.11 billion dollars. These numbers show that, even after recent redemptions, the vehicles still channel sizable capital into Bitcoin, but they also underline how quickly sentiment can shift from strong buying to aggressive profit-taking.
Bitcoin ETFs Face Deep Monthly Outflows as Trading Volume Hits Records
Bitcoin spot ETFs are heading toward their worst monthly outflow on record as investors pull billions from the products, signaling a sharp reversal from the enthusiasm that fueled early-year gains. According to Bloomberg data, about 3.5 billion dollars has exited U.S. Bitcoin ETFs in November, nearly matching February’s previous record. BlackRock’s IBIT has seen about 2.2 billion dollars in redemptions, placing it on track for its weakest month since launch. The charts show cumulative ETF net flow sinking into negative territory while IBIT’s monthly bar drops below zero at a record pace.
US Bitcoin ETFs Record Monthly Outflow. Source: Bloomberg / X
At the same time, Bitcoin is navigating its harshest month in years. After sliding to 80,553 dollars on Friday, the token rebounded toward 87,000 dollars early Monday. Even so, it remains down roughly seven percent for the year, marking a sharp turn from the highs reached during the inflow-driven rally in early 2024. Bloomberg’s trading-volume chart shows ETF activity surging to a record 11.5 billion dollars on Friday, with IBIT handling about 8 billion dollars on its own. The spike highlights how aggressively investors are repositioning as sentiment shifts.
Meanwhile, analysts say the outflow cycle now moves in lockstep with Bitcoin’s price. Since the ETFs launched in January 2024, flows have become the primary driver of upward or downward pressure. Citi Research estimates that every one billion dollars in ETF outflows cuts Bitcoin’s price by about 3.4 percent, a pattern that aligns with November’s drawdown. At the same time, broader risk appetite has weakened across markets. High-growth tech stocks, AI names, and meme assets have all slipped, and Bitcoin’s short-term correlation with tech reached a record earlier this month. As Wall Street de-risks, Bitcoin increasingly trades as part of the same risk basket rather than a separate macro narrative.
Despite the turbulence, volume continues to rise. Yet the heavier trading has not produced a turn in sentiment, and analysts note that the same investor base that fueled the January–March rally is still exiting positions. Nick Ruck of LVRG Research said the earlier euphoria “has been exhausted,” adding that confidence has not fully returned even during brief periods of buying.
US Bitcoin ETFs Record Trading Volume. Source: Bloomberg
For now, the charts indicate a market driven more by caution than conviction, with ETF flows dictating direction as the year approaches its final weeks.
Source: https://coinpaper.com/12575/3-5-b-exodus-bitcoin-et-fs-hit-their-worst-month-ever-despite-massive-lifetime-inflows
