Bitcoin ETFs Outflows Surpassed $866M on Thursday Amid Sell-Off

Bitcoin (BTC) hovered around the $99,000 level on Friday morning after falling below the $100,000 level. As of press time, it had dropped as low as $97,709, according to the daily chart.

Meanwhile, BTC exchange-traded funds (ETFs) recorded massive net outflows yesterday. Invesco’s BTC Spot ETF (BTCO) and Grayscale’s Mini BTC Trust ETF (BTC) reported their sharpest outflows in months.

Bitcoin ETFs Mark 2nd Biggest Net Outflow, BTC Touches $95.9K

Grayscale led Bitcoin ETFs outflows yesterday with a $382 million Bitcoin sell-off. BTC struggled to stay above the $100K level. Grayscale BTC Trust ETF (GBTC). It is Grayscale’s more active BTC ETF, between its two BTC ETFs, that has sold roughly $64 million.

Grayscale’s Bitcoin Mini Trust ETF sold $318 million worth of BTC. This added to its total ETF outflows for the day. On November 13, Grayscale’s combined BTC ETF outflows reached $382 million.

BlackRock (IBIT) marked another significant outflow day by selling BTC worth $ 256 million. Overall, BTC Spot ETFs experienced the second-largest day of net outflows, at $866.7 million.

Assets under management (AUM) dropped from $142.42 billion to $140.76 billion on Wednesday. This includes ETF expenses, cash, and BTC holdings. That’s a 1.1% drop, suggesting the outflows are merely profit-taking measures.

In the above chart, the first three circles illustrate sharp plunges followed by almost equally sharp reversals. However, the period spanning early February till mid-April (fifth circle) suggests BTC Spot ETF net outflows dragged BTC price downwards.

Since October 29th, 2025, only two days have shown net inflows in the BTC ETFs. If the coming days result in net outflows, the resulting flow history may resemble that of the February-April period. In that case, BTC could be facing a drop to the $70,000 to $80,000 range.

ETH ETF Outflows Biggest Since Oct 10th, SOL Spot ETFs Stood Strong

Ethereum Spot ETFs extended their net outflow streak to three days with Thursday’s leak pegged at $260 million. The outflows were concentrated in BlackRock’s ETHA ($137.3M) and Grayscale’s two ETFs (combined outflow at ~$113M).

Fidelity (FETH) trimmed its ETH wallet by $14.2 million while Invesco (QETH) sold ETH worth around $4.4 million. The last net outflow bigger than yesterday’s outflow was recorded on October 10th.

At that time, Tariff-related uncertainty wiped out over $19 billion in leveraged trades. Solana Spot ETFs extended the net inflow streak to the 13th day with inflows of $1.4M. However, Thursday’s inflows were the lowest so far.

BTC Touches $95.9K, Struggles to Hold $100,000

Bitcoin price was struggling to hold the $100,000 level and eventually went below that mark at the end of Thursday’s trading hours. Asia woke up on Friday to see Bitcoin struggle at a new level, $99,000.

As of the writing of this report, BTC was trading at $96,930 after plummeting by over 6% intraday. Over the week, the cryptocurrency was down by over 5%.

BTC price declined during stretches of consecutive ETF outflow days. It also dipped when net inflow days were limited. Exchanges held on to 2.12 million BTC as of Friday, according to Coinglass.

This is one of the lowest levels in several years. In the last 24 hours, the exchange balance fell by over 10,000 BTC.