U.S. spot bitcoin exchange-traded funds recorded another week of net outflows, extending their streak of negative flows to four straight weeks.
The spot bitcoin ETFs saw a combined $1.22 billion in net outflows for the week ended Nov. 21, bringing four-week cumulative outflows to $4.34 billion, according to data from SoSoValue.
The funds posted daily net inflows of $238.47 million on Friday and $75.47 million on Wednesday, but recorded outflows on the remaining trading days.
Among the ETFs, BlackRock’s IBIT saw $1.09 billion in outflows for the week, its second-largest weekly outflow on record, trailing $1.17 billion logged in the week ended Feb. 28. The fund saw its largest daily net outflow of $523.15 million last Tuesday.
Last week’s outflows coincided the largest crypto market correction to happen this cycle, with bitcoin falling to around $82,200 on Friday from Monday’s $95,600,…
