U.S. spot Bitcoin (BTC) exchange-traded funds shed $1.1574 billion across three trading days ending Nov. 3, marking a run of withdrawals after substantial inflows earlier in October.
Farside Investors data show net outflows of $643.2 million on Oct. 30, $398.6 million on Nov. 2 and $115.6 million on Nov. 3. The daily withdrawal narrowed in each successive session.
Among individual funds on Nov. 3, BlackRock’s iShares Bitcoin Trust ETF lost $95 million, while the Bitwise Bitcoin ETF attracted $21.9 million. The group’s net figure reflects inflows and outflows across the funds.
By comparison, the funds drew $1.0747 billion over Oct. 19-21, as covered in EconoTimes’ earlier report on the three-session inflow. Other trading sessions fell between that gain and the latest withdrawals.
André Dragosch, Bitwise’s head of research in Europe, attributed the recent outflows to a short-term pullback in risk appetite. He said he did not view them as a lasting change in institutional sentiment.
Bitwise said none of the 15 institutions it interviewed reduced its crypto allocation during an earlier market decline. Those interviews provide no evidence about who redeemed ETF shares this week, and the flow figures alone do not establish why the withdrawals occurred.
At 5:03 a.m. ET (10:03 UTC) Wednesday, Bitcoin traded at $78,296, up 1.77% over 24 hours.
