TLDR
The biggest BTC redemptions were in BlackRocks iShares Bitcoin Trust (IBIT), with a record single?day $523 million outflow; next were Grayscales GBTC and Fidelitys FBTC on Thursday.
- IBIT led with the largest one?day pull, a $523 million outflow on Tuesday per a Reuters summary. record $523 million outflow
- On Thursday, net outflows were $903 million total, led by IBIT $355.5M, GBTC $199.35M, FBTC $190.4M. daily breakdown
- For the week ended Nov 21, spot BTC ETFs saw $1.22B net outflows; IBIT had ~$1.09B. weekly context
Deep Dive
1. IBITs Record Day
IBIT saw the largest single?day redemption among BTC ETFs, with a $523 million outflow on Tuesday.
- The record one?day outflow was reported by Reuters, reflecting accelerated institutional selling pressure. record $523 million outflow
- IBIT has been central to flow trends this month, repeatedly topping the daily outflow league. IBIT record day noted
Flows are concentrated in the largest fund; when IBIT trims, market?wide ETF net flows can swing sharply negative.
2. Next Largest: GBTC and FBTC
GBTC and FBTC ranked next in the biggest redemptions on Thursdays heavy outflow day.
- Thursday net outflows were $903 million, with IBIT $355.5M, GBTC $199.35M, FBTC $190.4M leading. daily breakdown
- Across the week, GBTC and FBTC posted meaningful redemptions alongside IBITs dominant losses. week detail including GBTC/FBTC
Selling extended beyond IBIT; multiple large issuers saw material redemptions, signaling broad institutional de?risking.
3. Weekly Context
The week ended Nov 21 registered $1.22B net outflows across spot BTC ETFs, with IBIT contributing ~$1.09B.
- The fourth straight week of net outflows totalled $1.22B, underscoring persistent risk?off sentiment. weekly context
- Reports highlight IBITs weekly losses near $1.09B, dwarfing peers for the period. IBIT weekly lead
Weekly aggregates confirm the ranking by size of redemptions (IBIT first, then GBTC and FBTC), useful for tracking where institutional flows are tightening.
Conclusion
IBIT topped BTC redemptions, with GBTC and FBTC close behind on the heaviest day. The weekly $1.22B net outflow shows broad de?risking, concentrated in the biggest funds. If macro conditions stabilize, these flow trends could moderate, but for now the largest vehicles are leading the pullback.
