U.S. spot Bitcoin ETFs recorded a fourth consecutive session of net withdrawals Friday, although the size of the outflow declined significantly.
Farside Investors reported a net outflow of $13.2 million on September 11, following withdrawals of $282.7 million Thursday, $120.2 million Wednesday and $46.6 million Tuesday.
The four-day total reached approximately $462.7 million. Friday’s result was driven primarily by a $19.2 million outflow from BlackRock’s IBIT, partially offset by $3.8 million entering Morgan Stanley’s MSBT and $2.2 million entering VanEck’s HODL.
Bitcoin nonetheless held near $77,000 after the CPI release, suggesting that ETF redemptions have not yet become disorderly spot selling. The asset also recovered from an intraday low near $76,400.
The distinction between the four-day streak and its changing pace matters. Thursday produced the largest withdrawal of the sequence, while Friday’s total was more than 95% smaller.
Cumulative net inflows across the U.S. spot Bitcoin ETF complex remain approximately $55.2 billion, but current flows are moving in the wrong direction during a period of rising yields.
TOKEN RECON ASSESSMENT
Friday’s smaller outflow is an early stabilization signal, not confirmation that institutional selling has ended.
A return to positive flows would strengthen the defense around $76,000–$77,000. Renewed withdrawals above $250 million per day would increase the probability of another support test.
Token Recon is watching whether IBIT’s withdrawal was a one-session allocation change or the beginning of broader selling from the market’s largest Bitcoin fund.
