Spot Bitcoin ETFs Shed $870M, Second-Highest Outflow in History

In the heat of a bearish crypto market, spot exchange-traded funds (ETFs) tied to the value of the world’s leading crypto asset, bitcoin (BTC), shed a massive $870 million on Thursday, November 13, 2025. Data from ETF trackers, Farside and SosoValue, reveal that this marks the second-highest outflow day for these investment funds since their debut in the U.S. financial market in January 2025.

The fund’s worst business day in history can be traced back to February 25, 2025, when the bitcoin ETF lost $1.113 billion in a single business day. On that day, many investors panicked and sold their holdings due to market uncertainty.  

BTC ETFs Bleed $870M in One Day

According to Farside, the chief contributor to the bearish day was Grayscale’s Mini Bitcoin Trust with the ticker symbol BTC. Investors in this product offloaded shares worth over $318 million to mark the worst business day for the Mini BTC Trust since its debut. 

Second on the day’s outflow list was BlackRock’s IBIT. Over the months, it has established itself as the most widely held ETF across various market conditions. However, the fund was overtaken by the bearish pressure this time as investors sold shares worth approximately $257 million.

Fidelity’s FBTC also lost about $120 million on Thursday, accounting for 14% of the day’s outflow. Other contributors were Grayscale’s GBTC and Bitwise’s BITB, among others, which accounted for the remaining losses of the day. Meanwhile, BRRR and BTCW, which have not recorded any market activity since late October, remained dormant on the bearish day.

BTC Reacts to Massive ETF Outflows

Following the massive $870 million ETF outflow, bitcoin witnessed a significant dip below the $100,000 resistance, which it had held for an extended period. It dropped to around $96,000 as many whales offloaded their holdings. The downtrend has also brought BTC’s market capitalization below the $2 trillion mark.   

This bearish period has raised concerns about whether the long-predicted 2025 bull run has come to an end or if the market is just finding a bottom in preparation for an uptrend. Concerning this, a recent analysis highlighted that the dip was sure to occur. However, if the bulls enter the market in time to halt the downtrend, BTC could rebound to settle above the $100,000 mark within a short period.      

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