Bitcoin ETFs Lose $1.28 Billion in a Week as BlackRock’s IBIT Leads the Exodus

US spot Bitcoin ETFs shed a net $1.28 billion last week, the biggest weekly drain since late June. That pushes the yearly net outflow to about $919 million, after October already saw $515 million leave. Bitcoin slipped under $76,000 as traders weighed the aftermath of Binance’s $6.3 billion hack.

BlackRock IBIT Outflows Extend Losing Streak

BlackRock’s IBIT, the largest spot Bitcoin fund by assets, lost $1.21 billion, roughly 95% of the weekly total. It has now recorded six straight sessions of withdrawals, with about $1.44 billion pulled since October 30. Fidelity’s FBTC went the other way, taking in around $93 million for the week even after a near $200 million outflow on Thursday.

Bitcoin Price Outlook and Key Support Levels

Analysts points to shifting rate expectations, post-midterm uncertainty and weak tech stocks, along with doubts that Congress can pass the CLARITY Act before year end. The Crypto Fear and Greed Index sits at 27, and Bitcoin trading at a discount there.