U.S. spot Bitcoin ETFs saw outflows of $95 million Tuesday, the third consecutive day of falling redemptions.
Meanwhile, investors bought into a broad market pullback, pouring billions into stock funds.
IBIT shed $78.2 million, while MSBT attracted $20 million
Outflows have eased since last Thursday. Farside data shows the funds lost $430 million on Nov. 5, followed by $412 million on Nov. 6, $201 million on Monday and $95 million on Tuesday.
Tuesday’s outflow was about 53% lower than Monday’s. November withdrawals now total about $1.6 billion.
Outflows were $398.6 million on Nov. 2 and $115.6 million on Nov. 3. Nov. 4 was the only day with inflows, at $74.6 million, with FBTC alone bringing in $236.7 million.
Two funds accounted for most of Tuesday’s decline. BlackRock’s iShares Bitcoin Trust (IBIT) lost $78.2 million, while Fidelity’s FBTC shed $36.8 million.
Morgan Stanley’s Bitcoin Trust (MSBT) attracted $20 million after taking in $22.1 million on Monday. It was the only fund to record inflows on both days; other spot funds had no flows Tuesday.
IBIT’s losing streak reached eight sessions on Tuesday. The fund has lost about $1.73 billion since Oct. 30.
Tuesday’s $78.2 million outflow was the smallest of the streak, compared with $213.2 million on Monday.
By Nov. 9, IBIT had lost about $1.66 billion, marking its seventh consecutive day of outflows, according to Cryptopolitan.
The funds recorded $2.06 billion in trading volume Tuesday, including $1.64 billion for IBIT. Total net assets were $92.82 billion, or approximately 6.26% of Bitcoin’s market value, while cumulative net inflows stood at $55.40 billion.
IBIT held $58.24 billion of those assets, followed by Fidelity’s FBTC with $12.82 billion and Grayscale’s GBTC with $9.11 billion.
Stock funds attracted about $12 billion a day
US-listed ETFs attracted about $12 billion a day over five sessions, Bloomberg ETF analyst Eric Balchunas wrote in a post on X on Tuesday.
All 17 of the top funds by inflows over that period were stock funds—a lineup Balchunas said he wasn’t sure he had ever seen.
“ETF investors didn’t just buy the dip, they DEVOURED it,” he wrote. “Vanguardians and degens are very dif ppl playing very dif games but they def agree on one thing: you buy the dip,” Balchunas added.
Among the biggest gainers were Vanguard’s S&P 500 fund VOO, Invesco’s Nasdaq-100 fund QQQ and BlackRock’s iShares Core S&P 500 fund IVV.
The divergence follows an AI-led stock selloff that erased Bitcoin’s post-midterm bounce. At the time of writing, Bitcoin was trading at $73,994, down 0.3% over the past 24 hours.
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