Bitcoin Funds See $299.9 Million in Outflows for Fifth Straight Session
Key Facts
U.S. spot Bitcoin exchange-traded funds recorded net outflows of $299.9 million on Wednesday, November 11, their fifth consecutive session of outflows, according to crypto.news. The latest session was part of a wave that began on November 5, adding fresh pressure to fund flows after a previous week marked by broad capital withdrawals. Most of the day's net outflows came from BlackRock's IBIT, leaving the movement of a single fund to dominate the market's tally for the session. The five-day wave was not the first turn to negative year-to-date net flows; that had occurred earlier, in the week ended November 6. The outflows coincided with a decline in Bitcoin's price between November 5 and November 11, while U.S. producer price data were scheduled for release the following day.
Withdrawals from IBIT totaled about $269.73 million on November 11, or nearly 90% of the total net outflows of $299.9 million, according to crypto.news. Grayscale's GBTC recorded outflows of $39.13 million in the same session. By contrast, Morgan Stanley's MSBT was the only fund to attract new money, with net inflows of $8.96 million. The other funds recorded no net movement, the source said. The distribution highlights how much of the daily total was tied to withdrawals from IBIT, despite a limited offsetting inflow into MSBT.
The outflow streak spanned consecutive sessions, beginning with withdrawals of $430.2 million on November 5, followed by $411.9 million on November 6, according to crypto.news. Those figures were part of a week that ended on November 6 with net outflows of $1.28 billion from U.S. spot Bitcoin funds. The Block described that total as the worst since late June. The November 11 session adds another link to the outflow wave that began the previous week, while the comparison between sessions shows that the size of withdrawals varied from day to day. The figures show Wednesday's movement continued in the same direction, though it was below the outflows recorded on November 5 and 6.
The funds' year-to-date net flows had turned negative before Wednesday's session, after the week of outflows ended on November 6, according to The Block. The funds entered that week with net inflows of about $368 million since the start of the year, then ended it with net outflows of about $914.1 million. The five-session wave therefore came after the annual balance had already turned, rather than causing the shift. This sequence places the November 11 total within a trend underway since the start of the month, while the year-to-date net-flow figure relates to November 6, not Wednesday. The Block also said the previous week had recorded outflows of $202.6 million, including withdrawals of $643.3 million on October 30, the largest single-day outflow in four months, according to the report.
Bitcoin fell from a close of $76,088.01 on November 5 to $74,015.19 on November 11, according to EL7 daily data, a decline of about 2.7% between the two dates. This coincided with continued withdrawals from the funds, though it does not by itself establish the reason for the outflows. Before the wave, the funds recorded net outflows of $1.04 billion over the October 30 and November 2 sessions, amid concerns related to the Binance hack and uncertainty ahead of the U.S. midterm elections, according to Bloomberg. That provides a backdrop of pressure on sentiment before the start of the session streak that extended through November 11. In technology stocks, CoinDesk reported that Nvidia shares closed at $173 on Wednesday, then fell more than 7% in after-hours trading.
CoinDesk linked the move in Nvidia shares to a report that the company's board was preparing to remove CEO Jensen Huang, with the board possibly meeting on Wednesday to consider his future. The site attributed the information to a Wall Street Journal report and also noted the stock's after-hours decline. On the day after the fund session, the U.S. producer price index for October was scheduled for release on Friday, November 13, 2026, at 8:30 a.m. Eastern time, according to the U.S. Department of Labor. The data release was scheduled after the outflow streak and Bitcoin's decline between November 5 and November 11. The data provide the next event on the market calendar cited in the sources, which do not include an estimate of the result or its potential effect on flows.