News · Institutions & ETFs
BlackRock's IBIT accounted for 95% of weekly redemptions as macroeconomic doubts and industry shocks pressured crypto funds.
Key point 1 of 3
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US spot Bitcoin ETFs posted $1.28 billion in weekly net outflows, the largest aggregate redemption volume since late June.
Key point 2 of 3
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BlackRock's IBIT lost $1.21 billion last week, extending a six-session streak of net outflows that erased $1.44 billion since Oct. 30.
Key point 3 of 3
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Fidelity's FBTC countered the broader trend with roughly $93 million in weekly net inflows despite losing near $200 million Thursday.
Context
ETF flows had already weakened following $515 million in net outflows in October. Sentiment soured further amid tech stock drops, election fallout, and Binance's $6.3 billion…
Why it matters
Institutional demand via spot ETFs has cooled rapidly, with IBIT bearing the brunt of withdrawals and dragging total year-to-date fund net outflows to about $919 million.
What to watch
Market participants are monitoring whether Congress advances the CLARITY Act before year-end, as well as forthcoming US inflation prints and Federal Reserve rate guidance.
Sources
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