When billions exit in days, it’s not routine volatility — it’s a signal that the ETF era is entering its most decisive stress test yet.”
Spot Bitcoin ETFs saw a huge $903 million daily withdrawal on Thursday, the second-largest single-day withdrawal since their introduction in January 2024, shaking the U.S. Bitcoin ETF market with one of its most violent sell-offs so far.
The market experienced a brief flash of optimism with $75.4 million in inflows just one day before the abrupt flood of redemption pressure that obliterated it.
Now, November has become a historic month for ETF anxiety. If redemption patterns continue, this month might be the worst outflow month ever for U.S. spot Bitcoin ETFs.
With total outflows reaching $3.79 billion, surpassing February’s previous record of $3.56 billion.
BlackRock’s iShares Bitcoin Trust (IBIT), which has lost $2.47 billion in November alone—an astounding 63% of all monthly outflows—is at the forefront of the decline.
According to Ki Young Ju of CryptoQuant, IBIT recorded nearly $1.02 billion in redemptions this week alone, making it its biggest weekly outflow in history.
Not far behind, $1.09 billion has been taken out of Fidelity’s Wise Origin Bitcoin Fund (FBTC) this month, including $225.9 million this week.
Together, IBIT and FBTC accounted for 91% of all outflows from U.S. spot Bitcoin ETFs in November, pushing liquidity out of the market at a record rate.
The cryptocurrency market is currently facing one of its most significant turning points in 2025, with volatility increasing and investor sentiment changing quickly.
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