U.S. spot Bitcoin exchange-traded funds closed the November 9 to November 13 week with approximately $1.065 billion of net redemptions. Token Recon calculated the total from the finalized daily figures in Farside Investors’ Bitcoin table: negative $201 million, negative $95 million, negative $299.8 million, negative $284.1 million and negative $185.4 million.
BlackRock’s IBIT recorded an outflow in every session and lost about $908.4 million across the week. Fidelity’s FBTC lost $111.3 million. Morgan Stanley’s MSBT partly offset the pressure with $54.4 million of net creations across its first four sessions of the week before finishing Friday flat.
Ether funds lost $398.9 million over the same five sessions, according to Farside’s Ether table. Friday’s $2.3 million inflow ended a six-session redemption streak, but it did not materially change the week. Bitcoin and Ether products together lost about $1.464 billion.
Bitcoin traded near $67,300 at scan time after reaching an intraday low around $66,600. Ether traded near $1,911. The synchronized weakness in fund flows and spot prices does not prove that ETF redemptions caused the decline, but it removes one potential source of demand while the market is trying to stabilize.
The weekly total matters more than Friday’s smaller outflow. Redemptions were persistent across the full week, and the largest Bitcoin product did not provide a counterweight. A durable reversal would require repeated aggregate inflows with participation from the largest funds, not a single positive product or session.
TOKEN RECON ASSESSMENT
The dominant signal is persistence. Bitcoin ETF redemptions continued through all five sessions, while IBIT alone accounted for most of the category’s weekly loss. Friday’s small Ether inflow is an interruption, not yet a reversal. The bearish interpretation weakens only if creations broaden across issuers and continue while spot prices hold recovered ground.
Sources
Farside Investors, U.S. spot Bitcoin ETF flows
