US Spot Bitcoin ETFs Face Largest Monthly Redemptions on Record
US spot Bitcoin exchange-traded funds are facing their toughest month since launching early last year, as investors continue to pull capital at an accelerating pace. November’s outflows have reached an unprecedented $3.79 billion, surpassing the previous record set in February. The reversal follows a momentary pause mid-week, when modest inflows briefly interrupted a five-day streak of withdrawals.
Bitcoin ETF Outflows Hit New Monthly Record
Fresh redemptions of $903 million on Thursday marked the largest daily outflow of the month, erasing Wednesday’s limited inflow and pushing overall November withdrawals to historic highs. Market data suggests that unless a significant shift occurs in the final days of the month, November will close as the worst period ever for US spot Bitcoin ETF flows.
Analytics tracked by Farside Investors show the decline has already overtaken February’s $3.56 billion record.
BlackRock’s IBIT Leads the Downtrend
The largest share of withdrawals came from BlackRock’s iShares Bitcoin Trust (IBIT), which has recorded $2.47 billion in net outflows, representing 63% of all spot Bitcoin ETF redemptions this month.
“This is IBIT’s largest weekly outflow ever,” noted Ki Young Ju, CEO of CryptoQuant, who highlighted the shift as a significant deviation from earlier investor confidence.
Fidelity’s Wise Origin Bitcoin Fund (FBTC) followed with $1.09 billion in monthly withdrawals. Together, the two funds account for 91% of all US spot Bitcoin ETF outflows in November, underscoring how concentrated the pressure has become within the two largest issuers.
Bitcoin Price Drops to Seven-Month Low
The heavy outflows dragged Bitcoin down to $83,461, its lowest price since April. Some analysts warn that the downturn may deepen.
“There’s a large cohort of dumb money buying ETFs without understanding crypto. This never ends well,” said QwQiao, co-founder of Alliance DAO, who cautioned that another “50% drawdown” may be needed to rebuild long-term support.
Chris Burniske, co-founder of Placeholder, added that “the era of DAT selling has only begun,” warning that the same flows that fueled Bitcoin’s rise may now amplify downward pressure.
DAT Inflows Decline Sharply
Digital asset treasury (DAT) activity has also cooled, falling to $1.93 billion in October, an 82% drop from September. With only $505 million recorded so far, November is on pace to mark the weakest month for DAT inflows in 2025.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.