ETF Exodus: Bitcoin Funds Bleed $400M—What’s Next?

Bitcoin (BTC) saw a slight dip, slipping below $90,000, while U.S. spot bitcoin ETFs experienced outflows totaling $400.67 million. Not everyone took a hit, though. Blackrock’s IBIT picked up $126.53 million, and Vaneck’s HODL added $2.5 million to its tally. On the flip side, five funds recorded losses, with Fidelity’s FBTC taking the largest hit, shedding $179.16 million, according to sosovalue.com metrics.

Trailing FBTC, Ark Invest’s and 21shares’ ARKB fund faced a $161.72 million loss, while Bitwise’s BITB dropped $113.94 million, and Grayscale’s Bitcoin Mini Trust let go of $5.28 million. The remaining funds stood still, reporting neither gains nor losses. The $400.67 million outflow ended a solid six-day run of net inflows.

Cumulatively, the 12 funds’ net inflows since Jan. 11 have now dipped to $27.83 billion. These funds currently hold $92.56 billion in BTC reserves, representing 5.34% of bitcoin’s total market value. Meanwhile, ethereum ETFs didn’t fare much better, recording $3.24 million in outflows on Thursday. Blackrock’s ETHA stood out as the day’s only winner, pulling in $18.87 million.

However, the gains weren’t enough to offset losses from Grayscale’s ETHE, which saw a $21.9 million outflow, and Vaneck’s ETHV, which let go of $1.14 million. The rest of the ethereum funds held steady without any movement. The $3.24 million outflows reduced these nine ETFs’ cumulative net inflows to $238.27 million. As of Friday, Nov. 15, these funds manage $9.27 billion worth of ether, accounting for 2.48% of the total ETH supply in circulation.