Stock ETF buyers pounce on dip as Bitcoin funds bleed $1.6 billion
US spot Bitcoin ETFs have lost $1.6 billion in November, while stock funds attracted billions of dollars from investors buying the dip.
US spot Bitcoin exchange-traded funds (ETFs) recorded $95 million in net outflows on Tuesday as investors poured billions of dollars into stock funds during a market pullback.
Tuesday’s withdrawals brought net outflows from US spot Bitcoin (BTC) ETFs to roughly $1.6 billion since the start of November, according to SoSoValue data.
Bitcoin ETF outflows eased for a third straight session, while stock funds accounted for all 17 of the top US-listed ETFs by inflows over five trading sessions, according to Bloomberg ETF analyst Eric Balchunas.
US-listed ETFs attracted roughly $12 billion per day over those five sessions, with all 17 of the top funds by inflows investing in equities, Balchunas said on X on Tuesday.
The biggest beneficiaries included Vanguard’s S&P 500 ETF (VOO), Invesco’s Nasdaq-100 ETF (QQQ) and BlackRock’s iShares Core S&P 500 ETF (IVV).
BlackRock’s iShares Bitcoin Trust (IBIT) recorded $78 million in net withdrawals Tuesday, its eighth straight trading session of outflows. The fund recorded about $1.73 billion in net outflows over the streak, according to Farside Investors.
Morgan Stanley’s Bitcoin Trust ETF (MSBT) attracted $20 million Tuesday, although the inflows were insufficient to offset broader losses.
Daily net outflows from Bitcoin ETFs outflows slowed from $430 million Thursday and $412 million Friday to $201 million Monday and $95 million Tuesday, but broader market indicators remained weak, according to CryptoQuant.
CryptoQuant’s Bitcoin Bull Score Index dropped to 20 on Monday from 90 on Oct. 13, signaling “extremely bearish” conditions, according to a Tuesday report seen by Cointelegraph.