The U.S. listed spot Bitcoin exchange-traded funds (ETFs) broke a five-day trend of outflows on Wednesday, achieving a net inflow of $75.4 million, with Bitcoin also reclaiming the $92,000 price level.
Farside Investors data shows that on that day, BlackRock's iShares Bitcoin Trust (IBIT) performed notably, attracting $60.6 million in inflows—though this still falls short compared to the previous day's outflow of $523 million. The Grayscale Bitcoin Mini Trust ETF also recorded a net inflow of $53.8 million.
On the other hand, Fidelity Investments and VanEck's spot Bitcoin ETFs saw a combined outflow of $39 million that day.
This rebound coincides with Bitcoin returning to the $92,000 mark, providing a degree of stabilization after a week of continuous declines.
According to CoinGecko, Bitcoin briefly touched $92,000 on Wednesday, before dropping to a low of $88,500 on Thursday. As of the time of writing, the asset's price is approximately $91,700.
This five-day outflow trend included a single-day outflow exceeding $868 million on November 13 and nearly $500 million on November 14, mirroring the recent widespread sell-off of global cryptocurrency exchange-traded products.
Farside's daily data breakdown indicates that this round of sell-offs was highly concentrated. Fidelity's FBTC saw redemptions of $132.9 million and $119.9 million over two consecutive days last week. Meanwhile, issuers like Bitwise, Ark, and Invesco also experienced several days of negative fund flows.
As previously reported by Cointelegraph, last week the overall crypto ETPs saw an outflow of $2 billion, marking the largest single-week record since February. CoinShares data indicates that 97% of the outflows came from U.S. domestic ETP products.
U.S. spot Bitcoin ETFs have evaporated nearly $3 billion in November, making this category likely to surpass February as the worst-performing month. According to SoSoValue data, U.S. spot Bitcoin ETFs set a record for net redemptions of $3.56 billion in February.
Although the $75 million single-day net inflow is mild compared to the recent massive outflows, it indicates a partial recovery in risk appetite among some investors. SoSoValue also shows that the ETF's trading volume increased to $6.89 billion that day, up nearly 18% from the previous trading day.
This suggests that despite the overall trend of outflows, not all investors are choosing to exit. Some appear to be buying the dip or positioning themselves ahead of potential catalysts at the end of the year.
Related: Analyst: Cathie Wood's Ark Invest significantly increased holdings in Circle, BitMine, and Bullish during the crypto stock downturn.
Original: “U.S. Bitcoin ETFs End Five-Day Plunge as BTC Reclaims $92K”
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