Fidelity's FBTC led the withdrawals with $199.9 million, one session after a $236.7 million inflow at the same fund single-handedly turned the group positive. The month's four completed sessions now total $869.8 million in net outflows.
US spot bitcoin exchange-traded funds recorded $430.2 million in net outflows on November 5, and no fund in the group took in money, according to flow data compiled by Farside Investors. SoSoValue put the session's total at about $430 million.
The absence of any offsetting subscription is what separates the session from the three before it. Through November 2, 3 and 4, redemptions concentrated at BlackRock's iShares Bitcoin Trust were partly or wholly offset by money arriving at other funds, and on November 4 those offsets were large enough to leave the group with a net inflow. On November 5 they were not there.
Fidelity's Wise Origin Bitcoin Fund led the withdrawals at $199.9 million, followed by iShares Bitcoin Trust at $105 million, Grayscale Bitcoin Trust at $49.9 million and VanEck's HODL at $23.6 million, on Farside's figures. Reports republishing the same dataset disagree about two of the smaller line items, including which issuer accounted for a $32.9 million redemption, and one published breakdown does not add up to the total it states. The figures above are the ones on which independent readings of Farside's data agree.
Fidelity's reversal is the largest single change in the series. FBTC took in $236.7 million on November 4, enough on its own to turn a session in which IBIT lost $201.2 million into a $74.6 million net inflow for the group. One session later the same fund accounted for close to half of all redemptions.
For IBIT the November 5 figure extended a run already under way. Cointelegraph, citing Farside, reported it as the fund's fifth consecutive session of net outflows and said more than $1 billion has left IBIT since October 30.
The month's four completed trading days have produced $869.8 million in net outflows: $398.6 million out on November 2, $115.6 million out on November 3, $74.6 million in on November 4 and $430.2 million out on November 5. That figure adds Farside's published daily totals for those four sessions and uses no other input.
Daily flow figures record creations and redemptions executed by authorized participants, and they are published after a session settles. A one-day total therefore measures the net change in what the funds hold, not a direct reading of what buyers decided on that date.
Bitcoin opened November 5 near $80,444 and fell to an intraday low of about $75,035, according to price data cited by Coinpaper, and was trading around $75,500 early on November 6. The session ran alongside a sell-off in US technology stocks. The flow data on its own does not establish which movement influenced the other, and the redemptions and the price decline fall inside the same session.
Ether ETFs lost about $100 million over the same session on SoSoValue's numbers, as reported by Cointelegraph, taking the combined bitcoin and ether outflow to roughly $530 million. The two groups had taken in a combined $128 million the day before.
Only one of the month's four completed sessions has produced a net inflow for the bitcoin funds, and that session depended on a single fund that reversed the next day.
