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Bitcoin ETFs record a fifth consecutive day of significant outflows.
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BlackRock’s IBIT suffers record redemptions since its launch.
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Bitcoin faces further downside risk as selling pressure intensifies.
U.S.-listed spot Bitcoin exchange-traded funds (ETFs) saw another day of sizable redemptions on November 18, marking the fifth straight session of outflows.
The ETFs recorded aggregate net redemptions of $372.8 million, extending a trend that began on November 12 and has now removed billions of dollars from the largest issuers.
Daily outflows were driven largely by BlackRock’s iShares Bitcoin Trust (IBIT), which reported $523.2 million in redemptions — its largest single-day outflow since the fund launched in January 2024.
Small inflows into EZBC and BTC were not enough to offset broader investor selling.
| Range | IBIT | FBTC | BITB | ARKB | BTCO | EZBC | BRRR | HODL | BTCW | GBTC | BTC | Total |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| November 18, 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) |
| November 17, 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) |
| November 14, 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) |
| November 13, 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) |
| November 12, 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) |
Recent sessions showed a similar weak pattern, with $254.6 million exiting on November 17, $492.1 million on November 14, $866.7 million on November 13, and $278.1 million on November 12.
The persistent withdrawals reflect cooling institutional appetite despite isolated inflows to a few funds.
IBIT under the most pressure
Data from SoSoValue show IBIT’s $523.15 million outflow on Tuesday surpassed its previous single-day record of $463 million on November 14.
The ETF has now posted five consecutive days of net redemptions totaling $1.43 billion.
With net assets of $72.76 billion, IBIT remains the largest spot Bitcoin ETF in the world.
Still, flows have turned negative since the end of October, with four straight weeks of outflows totaling $2.19 billion.
Across the sector, spot Bitcoin ETFs experienced over $3 billion in outflows in November, with IBIT accounting for nearly $2 billion of that amount.
Those redemptions coincided with a correction in Bitcoin’s price, as the token fell below $90,000 earlier this week from an all-time high of $126,080 in early October.
Bitcoin was last trading around $91,849, up 1.6% over the past 24 hours.
Bitcoin price tests key support
Bitcoin continues to trade near the $90,000 support level.
A daily close below that threshold could open the door to further declines, particularly as institutional outflows reinforce bearish sentiment.
Pressure has been amplified by data showing sustained selling across multiple investor groups.
A K33 Research report published on Tuesday noted that long-term holders have been trimming positions for months, while ETF investors accelerated their selling in recent weeks.
K33 highlighted that the recent market structure in Bitcoin resembles conditions that preceded prior major drawdowns.
In March 2024, the token fell 33.57% from its peak, while selling driven by liquidations earlier in the year led to a 31.95% decline. A similar correction now would place Bitcoin in the $84,000–$86,000 range.
K33 analysts also warned that a revival of leverage in the derivatives market could act as a catalyst, pushing prices toward — or even below — those levels.