Bitcoin ETFs Lose $2.35 Billion in Two Weeks as BlackRock’s Outflow Streak Hits 11 Sessions

U.S. spot Bitcoin exchange-traded funds have now posted two consecutive weeks of billion-dollar withdrawals, turning what looked like a rough patch into a sustained test of institutional demand.

The funds lost a combined $2.35 billion over the two weeks through November 13. BlackRock’s iShares Bitcoin Trust has been at the center of the retreat, extending its own outflow streak to 11 straight trading sessions.

Two weeks, more than $2 billion out

Cointelegraph reported that the U.S. spot Bitcoin ETF group lost $1.07 billion during the latest week after $1.28 billion left the week before. The earlier weekly total was the largest since late June.

Together, the two weekly figures reached $2.35 billion. The redemptions also ran alongside Bitcoin’s slide below $70,000, removing a source of institutional demand while the spot market was already weakening.

The daily pace eased into Friday but remained negative. The group lost $299.8 million Wednesday, $284.1 million Thursday and $185.4 million Friday.

That Friday print marked the seventh consecutive session of market-wide net withdrawals, taking the total since November 5 to roughly $1.71 billion.

The Farside Investors flow table shows that Friday’s loss came from two products: $143.5 million from BlackRock’s IBIT and $41.9 million from Fidelity’s FBTC. The other funds were flat.

That issuer-level split is important because it shows the negative total was not a uniform withdrawal from every Bitcoin fund. The pressure remained concentrated in the two largest named outflows, led overwhelmingly by IBIT.

IBIT is carrying most of the pressure

IBIT’s Friday loss extended its withdrawal streak to 11 trading sessions beginning October 30. About $2.35 billion has left the fund during that run, including $908.4 million in the latest week after roughly $1.21 billion the prior week.

Its November outflows reached $2.12 billion, or about 90% of the broader spot Bitcoin ETF market’s withdrawals for the month. That concentration matters.

The figures point to a sharp reversal inside the largest and most closely watched vehicle, while several competing funds recorded no flow at all on Friday.

ETF analyst Eric Balchunas recently reminded investors that even successful commodity funds can endure long winters after an explosive early run. His comparison was gold rather than Bitcoin, but the point is useful: adoption stories do not move in straight lines.

That history makes the next several daily flow reports more important than one dramatic cumulative number. Fresh creations would mark a real recovery; slower redemptions would only show that the pressure is easing.

Many people forget just how long the 'winter' was for $GLD. It had an initial burst, even becaming the biggest ETF in world for one day in 2011 ,and then the bad times came and and it (saw 40% of investors bail) and took nearly a DECADE to get back to its that aum high again.… pic.twitter.com/Ny9gyyo1Am

— Eric Balchunas (@EricBalchunas) November 11, 2026

Outflows are colliding with a weaker liquidity backdrop

The ETF selling landed as Bitcoin fell below $70,000 and the broader crypto market remained under pressure. Creations and redemptions can reflect portfolio rebalancing, basis trades, tax decisions and changes in risk exposure.

Seven negative sessions in a row still show that one of Bitcoin’s most visible institutional bids has weakened.

Glassnode has also flagged a contraction in stablecoin supply, reporting a $14.2 billion decline over 30 days. Shrinking stablecoin supply points to less immediately deployable money across the crypto ecosystem while ETF demand is also retreating.

Stablecoin supply is shrinking fast.

Total supply fell $14.2B in 30 days, the fastest contraction since June 2022.

A turn back to growth would be the first sign of new money.

More on recent buyers, large wallets and bids below price in this week's Week On-chain. https://t.co/QxBLBPEHtk pic.twitter.com/k1mWO1Oiyu

— glassnode (@glassnode) November 11, 2026

What would show the streak is breaking?

The simplest answer is a fresh IBIT inflow. One positive session would end the 11-day run, but a more convincing change would be several inflow days spread across multiple issuers while Bitcoin stabilizes.

Investors should also watch the pace. Friday’s $185.4 million market-wide loss was smaller than the prior two sessions.

If redemptions continue to slow, the headline streak could look worse than the underlying trend. If the daily totals accelerate again, the pressure is broadening rather than fading.

For now, institutional demand is providing a much smaller cushion. Two billion-dollar weeks and an 11-session IBIT streak make the next flow print one of the clearest near-term signals for Bitcoin’s market tone.

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.