Bitcoin ETFs See $903M Outflow as IBIT Leads With $355M Exit

Bitcoin ETFs faced another tough trading day on November 20. With the sector recording a massive $903 million in net outflows. This marks the second-largest single-day exodus in the history of U.S. spot Bitcoin ETFs. It highlights the growing caution spreading across the market. As investor sentiment cools, the data shows heavy withdrawals from multiple issuers. With BlackRock’s IBIT once again taking center stage.

BlackRock’s IBIT Suffers the Biggest Single-Day Exit

BlackRock’s IBIT, the largest Bitcoin spot ETF by assets. It led the outflows with a sharp $355.5 million leaving the fund in one day. This withdrawal removed more than 4,100 BTC from IBIT’s holdings. It pushed selling pressure back onto the broader market.

Even with this setback, IBIT’s total historical net inflow remains strong at $62.83 billion. However, the staggering outflow signals rising anxiety among institutions. Especially as Bitcoin struggles to hold key support levels in a weakening macro environment. Traders pointed to risk-off behavior, profit taking and uncertainty ahead of year-end. That positioning as likely reasons behind the sudden wave of redemptions.

Sector-Wide Selling Hits Major Issuers

The outflows were not isolated to BlackRock. Fidelity ’s FBTC saw $190 million in withdrawals, losing more than 2,200 BTC in a single session. Grayscale’s GBTC also recorded a significant $199 million outflow. It continuing its long trend of negative flows as investors migrate to lower-fee alternatives. Other issuers, including Ark 21Shares, Bitwise and VanEck. It reported redemptions ranging from $20 million to nearly $100 million. 

Combined, the outflows dragged total U.S. Bitcoin spot ETF net assets down to $113 billion. This marks a sizable weekly decline. Even with these losses, trading activity remained strong. Total ETF trading volume reached $8.92 billion. This showing that investors are still actively rotating capital rather than stepping away from the market altogether.

Market Reacts as Bitcoin Drops Below $87K

As expected, the heavy ETF exits influenced Bitcoin’s price. Bitcoin fell to around $86,462, losing momentum after weeks of choppy trading. Analysts noted that ETF redemptions have become one of the clearest indicators of institutional sentiment. The latest numbers show that investors are choosing safety over exposure for now.

Chart – Total Bitcoin Spot ETF Net Inflow by sosovalue.com on 21 Nov 2025

Market watchers also pointed out that cumulative inflows remain positive at $57.4 billion. This means the long term appetite for Bitcoin ETFs is still intact. But near-term pressure may continue as funds rebalance ahead of year-end. As macro uncertainty weighs on investor confidence.

A Pivotal Moment for Bitcoin ETF Flows

For the crypto market, the latest data serves as a warning and a reminder. Despite the strong adoption of spot Bitcoin ETFs in 2024 and 2025. The products remain sensitive to fast swings in sentiment. Large institutional moves can quickly influence price action. Especially during periods of declining liquidity. As the industry looks ahead, traders and analysts now wait to see. Whether these outflows represent short term turbulence or the beginning of a deeper trend. Currently, the message from institutions appears clear: caution first, conviction later.