US spot Bitcoin ETFs recorded $1.44 billion in net outflows between November 5 and 11, according to SoSoValue, including $299.9 million on Wednesday, November 11. Their assets under management fell to $93.7 billion from a peak of $169.5 billion in October 2025, while the stablecoin supply declined by $14.2 billion in 30 days. The redemptions reflect investor caution, the loss of support from basis trades and a persistent shortage of new buyers. With Bitcoin at $73,358, some investors remain underwater and could reduce their positions further before year-end. BlackRock nevertheless expects substantial additional allocations, and the return of demand will determine whether these five sessions represent a routine adjustment.
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