U.S. spot Bitcoin exchange-traded funds recorded net outflows of $95 million on Tuesday, the third consecutive session in which daily redemptions have eased. The slowdown came as investors across broader markets bought a sweeping pullback, pouring billions of dollars into stock funds.

Outflows narrow for third straight day

Redemptions have thinned steadily since last Thursday. Data from Farside Investors shows the funds shed $430 million on Nov. 5, followed by $412 million on Nov. 6, $201 million on Monday and $95 million on Tuesday. Tuesday's exit was roughly 53% lower than Monday's figure, and withdrawals so far this month total about $1.6 billion. Because the funds hold Bitcoin directly, their daily tallies have become a standard reference point for US fund-level demand since the products began trading in January 2024.

Earlier in November, outflows reached $398.6 million on Nov. 2 and $115.6 million on Nov. 3. Nov. 4 stood out as the only inflow day, drawing $74.6 million, with Fidelity's FBTC alone attracting $236.7 million.

IBIT slides as MSBT takes in $20 million

Two funds led Tuesday's declines. BlackRock's iShares Bitcoin Trust (IBIT) lost $78.2 million, while Fidelity's FBTC saw $36.8 million in redemptions. Morgan Stanley's Bitcoin Trust (MSBT) bucked the trend, taking in $20 million after drawing $22.1 million on Monday. It was the only fund to post inflows on both days, a small counterpoint to the category-wide pullback, while the remaining spot funds recorded no flows on Tuesday.

Tuesday also extended IBIT's losing streak to eight consecutive sessions, a run that has cost the fund roughly $1.73 billion since Oct. 30. The streak carries added weight because IBIT is the largest fund in the category by assets. The day's $78.2 million exit was the smallest of the streak, down from $213.2 million on Monday. By Nov. 9, IBIT had already shed about $1.66 billion across seven straight days of outflows, according to Cryptopolitan.

Tuesday's combined trading volume across the funds reached $2.06 billion, with IBIT accounting for $1.64 billion. Total net assets stood at $92.82 billion, or approximately 6.26% of Bitcoin's market value, while cumulative net inflows totaled $55.40 billion. IBIT held $58.24 billion of those assets, ahead of Fidelity's FBTC at $12.82 billion and Grayscale's GBTC at $9.11 billion. With trackers such as Farside Investors updating totals each session, the daily data offers a running, session-by-session view of whether the narrowing pace continues.

Stock funds draw roughly $12 billion a day

The Bitcoin ETF slowdown contrasted with strong demand in equities. US-listed ETFs pulled in about $12 billion a day over five sessions, Bloomberg ETF analyst Eric Balchunas wrote in a post on X on Tuesday. All 17 of the top inflow funds over that period were stock funds — a lineup Balchunas said he wasn't sure he had ever seen.

"ETF investors didn't just buy the dip, they DEVOURED it," he wrote. "Vanguardians and degens are very dif ppl playing very dif games but they def agree on one thing: you buy the dip," Balchunas added.

Among the largest gainers were Vanguard's S&P 500 fund VOO, Invesco's Nasdaq-100 fund QQQ and BlackRock's iShares Core S&P 500 fund IVV, each among the biggest exchange-traded funds in the US market.

The divergence follows an AI-led stock selloff that wiped out Bitcoin's post-midterm bounce. At the time of writing, Bitcoin was trading at $73,994, down 0.3% over the past 24 hours.