The US-traded Spot Bitcoin ETF continued its negative flow trend, posting net outflows for the fourth consecutive week.
Outflows from US Spot Bitcoin ETF in 4 weeks: $1.2 billion total
Total outflows for the week ending November 21 reached $1.22 billion, according to SoSoValue data. This brings total outflows over the past four weeks to $4.34 billion.
There was an influx on a few days during the week, but not enough to change the situation. The ETF received $238.47 million in inflows on Friday and $75.47 million on Wednesday. But on other trading days, outflows overwhelmed these positive developments.
The biggest outflow was seen in BlackRock’s IBIT fund. The fund posted net outflows of $1.09 billion this week, its second-largest weekly loss in history. IBIT’s largest single-day outflow was $523.15 million on Tuesday.
The surge coincided with a market correction that week. Bitcoin fell from $95,600 on Monday to $82,200 on Friday. The current price is $87,348, up 1.2% in the last 24 hours.
Analysts say that although Bitcoin is showing signs of recovery, the market structure remains fragile. Vincent Liu, chief investment officer at Kronos Research, expects BTC to stabilize in the $85,000 to $90,000 range in the short term.
The outlook for Ethereum is also weak. The Spot ETH ETF ended its third consecutive negative week, with $500 million in outflows last week. In contrast, an inflow of $55.71 million was recorded on Friday.
The Solana ETF ended the week with $128.2 million in inflows, nearly triple the previous week. Meanwhile, XRP ETFs reported total inflows of $179.6 million, which was only close to the massive $243.05 million inflows that XRPC saw in a single day on November 14th.
*This is not investment advice.
