Bitcoin ETFs Lose $2.35B as BlackRock's IBIT Extends Losing Streak

US spot Bitcoin ETFs lost $2.35 billion in net outflows across two consecutive weeks, and BlackRock's iShares Bitcoin Trust (IBIT) has now been in the red for 11 straight trading sessions. Farside Investors' daily flow table puts Friday 13 November at $185.4 million of market-wide redemptions, of which IBIT supplied $143.5 million and Fidelity's FBTC $41.9 million, with every other fund in the table flat.

The daily pace is easing. The same table shows the complex losing $411.9 million on Friday 6 November and $185.4 million a week later, and the two sessions before Friday were heavier than Friday itself. What has not changed is the direction: the funds have now run seven straight sessions of net withdrawals, and IBIT has not logged an inflow in any of its 11.

• US spot Bitcoin ETFs recorded $2.35 billion in net outflows over two consecutive weeks, the latest ending Friday 13 November.
• The week of 9 to 13 November accounted for $1.07 billion, after $1.28 billion the week before, the heaviest weekly redemptions since late June.
• The next daily flow print covers Monday's session, and the dated event beyond that is the December Federal Reserve decision, with Polymarket putting rate-hike odds at about 97%.

IBIT's Losing Run Reaches 11 Sessions

Friday's $143.5 million extended IBIT's streak to 11 consecutive sessions in the red since 30 October. The run opened on a heavy day: Farside's table shows $643.2 million leaving the complex on 30 October, with only Invesco, Franklin, Valkyrie and VanEck escaping losses. IBIT has been the centre of the selling since then.

The group's losing run is shorter. Friday was the seventh consecutive session of net withdrawals for the funds as a whole, with about $1.71 billion redeemed since 5 November.

IBIT's November outflows have reached $2.12 billion, roughly 90% of the market's net withdrawals. That share comes from a single report and could not be checked against Farside's table, which is not totalled by month.

Where Friday's $185.4 Million Came From

Farside's 13 November row is narrow. IBIT's $143.5 million and FBTC's $41.9 million are the only negative entries, and the two sum to the market total exactly; every other fund printed zero.

The two days before were heavier, at $299.8 million on Wednesday and $284.1 million on Thursday. Measured Friday to Friday, the outflow has fallen by more than half: $411.9 million on 6 November, when IBIT alone accounted for $403.0 million, against $185.4 million on 13 November.

IBIT Is Still Positive for 2026, the Group Is Not

Grayscale's GBTC is the heaviest cumulative drag in Farside's table, with $28.1 billion of net redemptions since launch.

IBIT is still positive for 2026, with about $2.45 billion of net inflows this year. The group is not: US spot bitcoin ETFs are down about $1.42 billion in net flows for 2026, against roughly $25.2 billion of inflows at the same point in 2025.

The fee gap between the funds is wide. Farside's fee table lists IBIT at 0.25%, the same as FBTC, and GBTC at 1.50%.

Eleven Sessions Is Not the 2026 Record

The longest outflow streak of the year came earlier. Both the fund group and IBIT went 13 straight trading days without an inflow from 15 May to 3 June, and IBIT followed that with an 11-session run from 17 June to 2 July. The current run matches the second of those.

The redemptions also predate this fortnight. An eight-session stretch beginning 30 October had already pulled $2.22 billion out of the funds.

Why the Selling Picked Up

The acceleration followed a hotter-than-expected October inflation report, which lifted bets on a Federal Reserve rate hike in December. Polymarket put the odds of a hike at about 97%, while CME FedWatch had them near 90% on 11 November. The two gauges disagree.

Bitcoin fell below $70,000 on Friday, the same session as the heaviest redemptions, and roughly $1.47 billion of leveraged crypto positions were liquidated over 24 hours, about $1.31 billion of them longs, per CoinGlass figures.

The $70,000 level and the liquidation totals rest on a single market report and have not been confirmed by a second outlet. No source read here establishes whether the ETF redemptions drove the price move or followed it.

What Would End the Run

One net inflow ends both runs. The next Farside row covers Monday's trading, and the December Fed decision is the next dated event that could change the backdrop the selling has run against.

Until then the tally stands where Friday left it: 11 straight sessions for IBIT, seven for the group, and $2.35 billion out over two weeks. The pace has slowed; the direction has not turned.