US Spot Bitcoin ETFs Bleed $1.11B in Third Consecutive Week of Outflows

Group 1 - The US spot Bitcoin ETFs experienced a significant weekly outflow of $1.11 billion from November 10 to 14, marking the third consecutive week of outflows [1] - BlackRock's ETF IBIT recorded the largest net outflow of $532.41 million last week, while its cumulative net inflow reached $63.79 billion [1] - Grayscale Bitcoin Mini Trust logged a net weekly outflow of nearly $290 million, with its total historical net inflow also at $63.79 billion [2] Group 2 - The total net asset value of spot Bitcoin ETFs is $125.34 billion, representing a net asset ratio of 6.67% of the Bitcoin market cap [2] - Simon Gerovich, CEO of Metaplanet, stated that Bitcoin ETFs provide fixed exposure to Bitcoin and do not undermine the strengths of Bitcoin treasury companies [3] - Przemysław Kral, CEO of zondacrypto, highlighted the impact of weekend liquidity on market movements and noted that long-term investors have opportunities to accumulate tokens at lower rates [4] Group 3 - The massive outflows from Bitcoin ETFs have coincided with a decline in Bitcoin prices, with Bitcoin hitting a six-month low at $95,200 [4] - The cryptocurrency market experienced widespread liquidations totaling $617.45 million within 24 hours, with Bitcoin accounting for $243.56 million of that total [5] - The total cryptocurrency market capitalization fell to $3.31 trillion, down 0.9% from previous levels [5]