Weekly Bitcoin ETF Outflows Hit $1.3B, Most Since June

Weekly outflows from US spot Bitcoin ETFs surged to $1.28 billion last week, the largest weekly withdrawals since late June, as Bitcoin slipped below $76,000 and tech stocks sold off. According to SoSoValue, investors pulled a net $1.21 billion from BlackRock’s IBIT, extending its losing streak to six straight trading sessions. IBIT accounted for about 95% of the reported weekly total. The withdrawals bring net outflows for the year to roughly $919 million, after $515 million exited in October. Analysts at Bitfire pointed to expectations around US interest rates, post-midterm uncertainty, and a “breakdown and bottom-seeking” market.