BlackRock’s IBIT records $405.3 million outflow, largest since June

BlackRock’s iShares Bitcoin Trust, or IBIT, recorded a $405.3 million net outflow on Nov. 2, its largest daily withdrawal since June. The BlackRock IBIT outflows led tracked U.S. spot Bitcoin exchange-traded funds to a combined $398.6 million net outflow, according to Farside Investors.

The figures offer a one-day view of flows into and out of the funds. They do not identify why shares were redeemed or establish whether withdrawals will continue.

Why was the total Bitcoin ETF outflow smaller than IBIT’s?

The group total was smaller because Fidelity’s Wise Origin Bitcoin Fund, known as FBTC, recorded a $6.7 million inflow that day, Farside’s table shows. The other listed funds were marked at zero. That $6.7 million partially offset IBIT’s $405.3 million outflow, leaving the group with a net $398.6 million withdrawal.

IBIT is BlackRock’s exchange-traded product designed to track Bitcoin’s price. BlackRock says the product provides Bitcoin exposure while reducing the operational and custody work involved in holding the cryptocurrency directly. The fund traded on Nasdaq and had about $62.36 billion in net assets as of Nov. 2, according to BlackRock.

How does the Nov. 2 withdrawal compare with earlier IBIT flows?

Farside’s data show the Nov. 2 result was IBIT’s largest daily outflow since June 26, when the fund posted a $444.5 million outflow. It was not the fund’s largest outflow in the full dataset: Farside’s summary lists IBIT’s lowest daily flow as negative $528.3 million.

The move followed another weak session at the end of October. On Oct. 30, IBIT recorded a $233.7 million outflow, while the tracked U.S. spot Bitcoin ETF group posted a $643.2 million net outflow, according to Farside.

Farside’s next row, for Nov. 3, showed a preliminary-looking $52.6 million aggregate outflow, with IBIT marked by a dash rather than a reported figure. That row should not be read as a final IBIT result.

What was happening in Bitcoin?

Bitcoin briefly traded below $76,400 on Nov. 2, its lowest level since August, Cointelegraph reported, citing CoinGecko. It was around $76,600 when that report was published, down 3.7% over the prior seven days. The available data do not establish that the ETF flows caused the price move.

Cointelegraph also reported that U.S. spot Bitcoin ETFs had $515 million in net outflows during October and roughly $38 million in net outflows for 2026 through that point. Those figures provide context for the Nov. 2 reading, but do not explain investors’ decisions behind the daily flows.

This story draws on original reporting from Cointelegraph.