What were November BTC ETF outflows?

TLDR

As of 25 Nov (UTC), US spot Bitcoin (BTC) ETFs had about $3.7 billion in November net outflows, roughly 3% of AUM, per a recent market update from Bloomberg Intelligence cited by Yahoo Finance. US Bitcoin ETFs combined redemptions of about $3.7 billion

1. Week ended 21 Nov saw about $1.22 billion in outflows, the fourth straight week lower. Weekly flows
2. A single day saw a record $523 million pulled from BlackRocks IBIT on 19 Nov. Record daily outflow

Deep Dive

1. Weekly Pace

The latest full week into 21 Nov recorded roughly $1.22 billion in net outflows across US spot BTC ETFs, marking a fourth consecutive week of redemptions and summing to about $4.34 billion over four weeks. Weekly flows and four-week total

• Sustained weekly outflows indicate persistent de-risking among institutional holders through most of November.
• The four-week cumulative figure contextualizes the months pressure beyond any single day, pointing to consistent redemption activity.

2. Single-Day Spike

One session on 19 Nov saw a record $523 million redemption from BlackRocks iShares Bitcoin Trust (IBIT), underscoring how concentrated outflows can cluster around stress days. Record daily outflow

• Large single-day prints often align with macro risk-off or technical breaks, amplifying volatility around BTC.
• Month to date, US Bitcoin ETFs sum to about $3.7 billion in redemptions (the report above), indicating the spike occurred within a broader trend rather than as an isolated event.

Conclusion

November has been defined by steady net redemptions from US spot BTC ETFs, totaling about $3.7 billion by 25 Nov, with both weekly persistence and occasional record single-day prints. Macro risk-off and de-risking among institutions appear to be the main drivers, while an improvement would likely show up first as a consistent slowing of outflows before price strength broadens.