Bitcoin ETF Outflows Persist as US Inflation Data and Rate-Hike Bets Test Crypto
US spot Bitcoin ETFs recorded net outflows of about $1.28 billion over the week to November 7, according to Farside Investors data, as a strong jobs report revived bets on a December Federal Reserve rate increase. Traders are now watching Tuesday's October CPI release, though a 2025 data gap complicates year-on-year readings.
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Weekly Fund Outflows
Spot Bitcoin ETFs in the US lost money on four of five trading days in the week to November 7. Farside Investors' rounded daily figures show outflows of $398.6 million on Monday, $115.6 million on Tuesday, $430.2 million on Thursday and $411.9 million on Friday, offset by a $74.6 million inflow on Wednesday, for a net weekly total of about $1.28 billion. NewsBTC put the period from October 30 to November 6 at $1.92 billion, a different window that illustrates how the choice of dates changes the headline figure.
Friday's outflows were concentrated. BlackRock's IBIT accounted for $403 million of the $411.9 million withdrawn, while Fidelity's FBTC added $42.8 million. Separately, NewsBTC reported that Monday's session on November 9 showed $201.0 million in net outflows, with IBIT losing $213.2 million and Morgan Stanley's MSBT gaining $22.1 million. Neither source can say whether money leaving one fund moved into another, since daily flow tables record creations and redemptions, not the identity of end investors.
Rate Expectations and the Jobs Data
The October jobs report showed 165,000 new payrolls, strengthening the case for a December rate increase, according to Crypto.news. Bitcoin fell below $75,000 on November 9, with Ether near $2,100, before reclaiming $76,000 on Friday and moving back above that level on Saturday. Because US fund sessions do not run on weekends, there is no direct evidence yet on whether weekend buyers also entered the ETFs.
Inflation Data and Its Limits
The Bureau of Labor Statistics schedules the October consumer price index release for November 10 at 8:30 a.m. Eastern. The normal year-on-year comparison is unavailable for many series because the 2025 funding lapse left most October 2025 indexes missing, and the BLS will omit affected annual changes. Traders will therefore need to rely on seasonally adjusted monthly changes and category detail such as shelter, goods and services, while treating any annualised figure from a single month with caution.
Reading the Signal
The key question for the coming sessions is whether selling from large issuers eases across several completed reporting days and whether inflows broaden beyond one product. NewsBTC noted that one positive session would interrupt the streak without proving that buyers have regained control. Flow data reflects creations and redemptions rather than total trading volume, so it should be read alongside spot volume, derivatives positioning and the rates outlook.
Why It Matters
For Traders
Monday's CPI release arrives before the US equity session, so the reaction window and the lack of a clean year-on-year comparison make the first readings more volatile than usual.
For Investors
Persistent net redemptions from spot Bitcoin ETFs, if they continue, would signal weaker institutional demand even as the rate outlook hardens.
For Builders
Products tracking ETF flows or fund-level data should separate creations and redemptions from assets under management, since price moves alone can change reported totals.
This article is for information only and is not financial advice. Read the full disclaimer.
