Spot crypto-ETFs, heavy on Bitcoin, are seeing significant drawdowns, with billions in outflows in just weeks. U.S. spot Bitcoin ETFs had a $869.9 million net outflow on Nov. 13, totaling $3.7 billion for the month. $6 billion vanished from the crypto ETF universe in November, impacting Bitcoin’s price and investor sentiment.

iShares Bitcoin Trust saw a $523 million withdrawal on Nov. 18, with total losses of $2.2 billion in November. Other spot-Bitcoin ETFs like Wise Origin Bitcoin Fund, Grayscale Bitcoin Trust, and Bitwise Bitcoin ETF are also experiencing outflows, contributing to a cumulative November bleed across 11-12 funds.

ETF redemptions are causing ripple effects as fund managers sell Bitcoin to pay out withdrawals, adding supply pressure. Confidence is waning, with BTC dropping to below $90,000. Bigger funds like iShares Bitcoin Trust are more vulnerable due to their size, while smaller, diversified ETFs may fare better in volatile times.

Investors are reassessing crypto exposure amid macroeconomic uncertainty. The current slump in ETF flows coincides with Bitcoin’s decline from six-figure highs. Smaller or diversified ETFs may be more resilient in turbulent times.

Read more at Yahoo Finance: The Crypto ETF Crash Wall Street Didn’t See Coming