US Spot Bitcoin ETFs Log $95 Million Outflow on Tuesday, Fourth Consecutive Redemption Day
Key Takeaways
- •US spot Bitcoin ETFs recorded $95 million in net outflows on Tuesday, November 10, based on figures derived from issuer creation and redemption disclosures.
- •Tuesday marked the fourth consecutive session of redemptions, with withdrawals outpacing new issuance on every trading day since November 5.
- •The cumulative outflow from the funds since November 5 has reached $1.138 billion.
- •Spot Bitcoin ETFs began trading in January 2024 after the SEC approved an initial group of eleven funds from issuers including BlackRock, Fidelity, Grayscale, ARK 21Shares, and Bitwise.
- •The next issuer disclosures, due at the end of the upcoming trading session, will show whether the redemption streak extends to a fifth consecutive day.
US Spot Bitcoin ETFs Log $95 Million Outflow on Tuesday, Fourth Consecutive Redemption Day
United States spot Bitcoin exchange-traded funds recorded $95 million in net outflows on Tuesday, November 10, according to figures derived from issuer creation and redemption disclosures.
The session marked the fourth consecutive day of redemptions for the funds, extending a withdrawal streak that has now pulled a cumulative $1.138 billion out of the products since November 5.
Daily net flow figures for US spot Bitcoin ETFs are calculated from creation and redemption data disclosed by fund issuers at the end of each trading session. Creations indicate that new fund shares were issued, while redemptions reflect shares being withdrawn from the funds. When redemptions outnumber creations, the daily net figure turns negative, so a four-session streak such as the current one means withdrawals have outpaced new issuance on each trading day since November 5 rather than in a single session.
Spot Bitcoin ETFs hold the cryptocurrency directly and trade on US stock exchanges, allowing investors to gain exposure to Bitcoin's price without purchasing and custodying the asset themselves. The products began trading in January 2024, when the US Securities and Exchange Commission approved an initial group of eleven spot Bitcoin funds from issuers including BlackRock (IBIT), Fidelity (FBTC), Grayscale (GBTC), ARK 21Shares (ARKB), and Bitwise (BITB).
Since their launch, the funds have attracted assets from both institutional and individual investors, and their daily flow figures are widely monitored as a measure of demand for Bitcoin exposure through regulated exchange-traded vehicles. Read across consecutive sessions, the figures add a multi-day dimension to these single-close snapshots, showing how demand for the products develops over a stretch of trading days rather than in isolation.
The next set of issuer disclosures, due at the end of the upcoming trading session, will show whether the redemption run extends to a fifth consecutive day and how the cumulative outflow total since November 5 changes from its current level.
This article was first published on COINOTAG.
