Bitcoin ETFs Suffer Massive Outflow of $3.5 Billion as December Begins with Market Decline

Spot Bitcoin ETFs saw a significant outpouring of money, totaling $3.5 billion, in November alone. This marks the largest outflow in nine months and follows Bitcoin’s recent decline, dropping below $91,000 before settling at the $86,000 level. 4 consecutive weeks of net outflows for these ETFs paint a picture of declining investor confidence and rebalancing of portfolios ahead of year-end. This exodus was particularly marked by IBIT, experiencing its biggest single-day outflow since its launch last month with $523 million in outflows alone.