Record $866M Bitcoin ETF Outflows as BTC Dips Below $89.6K
Bitcoin spot ETFs suffered record outflows after BTC slipped below its $89,600 flow-weighted average cost basis, pushing many ETF investors into losses. From November 12 to 14, combined Bitcoin ETF outflows reached $1.64 billion, including a single-day high of $866.7 million on November 13. Top redemptions came from BlackRock’s iShares Bitcoin Trust ($145.6 million), Fidelity Wise Origin ($12 million), ARK 21Shares ($29.7 million) and Bitwise ($9.5 million). Ethereum ETFs also saw $182.7 million in redemptions, driven by BlackRock’s iShares Ethereum Trust. In contrast, Solana staking ETFs bucked the trend: Bitwise Solana Staking ETF drew $7.3 million and Grayscale Solana Trust added $0.9 million, bringing total Solana ETF inflows to about $390 million since October. Analysts warn that without clear Federal Reserve easing signals and improved liquidity, ETF losses may persist—even as long-term holders may hold through the correction. Traders await clearer interest-rate and monetary policy cues.
Bearish
The record outflows from Bitcoin ETFs and significant redemptions in Ethereum ETFs, triggered by BTC dipping below its $89,600 average cost basis and wider risk-off sentiment, point to bearish pressure. In the short term, selling may continue as liquidity tightens and macro uncertainty persists. However, resilient Solana ETF inflows and long-term holder conviction could temper further declines in the long run.