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Bitcoin ETFs record heavy outflows for a fifth consecutive day
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BlackRock’s IBIT posts record single-day redemption since launch
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Bitcoin faces further downside risk as selling pressure intensifies
U.S.-listed spot Bitcoin exchange-traded funds (ETFs) experienced another significant round of redemptions on November 18, marking the fifth straight day of outflows.
The ETFs registered aggregate net outflows of $372.8 million, extending a trend that began on November 12 and collectively removing billions of dollars from major issuers.
Most of the day’s outflows were driven by BlackRock’s iShares Bitcoin Trust (IBIT), which reported $523.2 million in redemptions — the largest single-day withdrawal since the fund launched in January 2024.
Small inflows into EZBC and BTC were insufficient to offset broad investor selling.
| Date | IBIT | FBTC | BITB | RKB | BTO | EZBC | BRR | Holdings | BTCW | GBTC | BTC | Total |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 18 Nov 2025 | (523.2) | 0.0 | 0.0 | 0.0 | 0.0 | 10.8 | 0.0 | 0.0 | 0.0 | 0.0 | 139.6 | (372.8) |
| 17 Nov 2025 | (145.6) | (12.0) | (9.5) | (29.7) | 0.0 | 0.0 | 0.0 | (23.3) | 0.0 | (34.5) | 0.0 | (254.6) |
| 14 Nov 2025 | (463.1) | (2.1) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | (6.0) | (25.1) | (492.1) |
| 13 Nov 2025 | (256.6) | (119.9) | (47.0) | (15.7) | (30.8) | (5.7) | 0.0 | (8.3) | 0.0 | (64.5) | (318.2) | (866.7) |
| 12 Nov 2025 | (36.9) | (132.9) | 0.0 | (85.2) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | (23.1) | 0.0 | (278.1) |
The recent sessions show a persistent pattern of weakness: $254.6 million flowed out on November 17, $492.1 million on November 14, $866.7 million on November 13, and $278.1 million on November 12.
These continued redemptions reflect cooling institutional appetite, despite isolated inflows into some funds.
IBIT faces the heaviest pressure
According to SoSoValue data, IBIT’s $523.15 million outflow on Tuesday surpassed the previous single-day record of $463 million set on November 14.
The ETF has now recorded five consecutive days of net outflows, totaling $1.43 billion.
With net assets of $72.76 billion, IBIT remains the largest spot Bitcoin ETF in the world.
Still, IBIT has been on a negative flow trend since late October, accumulating four consecutive weeks of outflows summing to $2.19 billion.
Across the sector, spot Bitcoin ETFs suffered more than $3 billion in outflows during November, with IBIT alone accounting for nearly $2 billion of that amount.
These redemptions coincided with Bitcoin’s price retracement, which saw the token dip below $90,000 earlier in the week from an all-time high of $126,080 reached in early October.
Bitcoin last traded around $91,849, up 1.6% over the prior 24 hours.
Bitcoin price tests key support
Bitcoin continued to trade near the $90,000 support level on Wednesday.
A daily close below that threshold could open the door to further downside, especially as institutional outflows feed bearish market sentiment.
Pressure has intensified amid data showing ongoing selling across several investor segments.
A K33 Research report published Tuesday noted that long-term holders have reduced positions over recent months, while ETF investors have accelerated selling in the past few weeks.
K33 emphasized that Bitcoin’s recent market structure resembles prior significant drawdowns.
In March 2024, the token fell 33.57% from its peak, while tax-driven selling earlier in the year produced a 31.95% decline. A similar correction today would place Bitcoin in the $84,000–$86,000 range.
K33 analysts also warned that a rebound in leverage within derivatives markets could act as a catalyst, pushing prices to or below those levels.