Bitcoin (BTC) ETF Outflows: BlackRock's IBIT Sheds $405M in a Day

By Nodora News · 3 November 2026

BlackRock's IBIT lost $405.3M on Nov. 2, its biggest outflow since June, as US spot Bitcoin (BTC) ETFs bled $399M and BTC slid to its lowest since August.

BlackRock's iShares Bitcoin Trust (IBIT), the largest spot Bitcoin (BTC) exchange-traded fund in the United States, lost $405.3 million in a single session on Monday, November 2, its biggest one-day outflow since late June. The withdrawal dragged the whole group of US spot Bitcoin ETFs to roughly $398.6 million in net outflows for the day, according to Farside Investors data, and it came as Bitcoin slipped to its lowest level since August.

Key takeaways

• IBIT recorded a $405.3 million net outflow on November 2, its largest since June 26 ($444.5 million).
• US spot Bitcoin ETFs posted about $398.6 million in total net outflows, a second straight losing session.
• Fidelity's FBTC was the only fund with inflows ($6.7 million); the other ten funds reported zero flow.
• Spot Ether (ETH) ETFs lost about $140 million on the same day, a sixth straight day of outflows.
• Bitcoin trades near $76,600 on OKX, down about 2% in 24 hours, ahead of the US midterm results.

What happened to BlackRock's Bitcoin ETF on November 2

US spot Bitcoin ETFs opened November the same way they closed October: with money heading for the exits. Almost all of Monday's selling came from a single product. IBIT, which holds Bitcoin on behalf of investors who buy its shares through an ordinary brokerage account, saw $405.3 million leave in one day.

An ETF outflow happens when investors redeem more shares than they buy. For a spot Bitcoin fund, that usually means the issuer sells or hands back Bitcoin to meet the redemptions, so heavy outflows can add selling pressure to the underlying market.

The only offset came from Fidelity's Wise Origin Bitcoin Fund (FBTC), which took in $6.7 million. Every other US spot Bitcoin ETF, including Grayscale's GBTC, Bitwise's BITB and ARK's ARKB, reported no net flow, so IBIT's withdrawal accounted for more than the entire group's net loss.

The numbers behind the Bitcoin ETF outflows

The figures, compiled by Farside Investors and confirmed by SoSoValue data, show how quickly sentiment has turned after a strong run of inflows in the last week of October:

• IBIT, Nov 2: -$405.3 million, the biggest daily outflow since June 26
• All US spot BTC ETFs, Nov 2: about -$398.6 million
• All US spot BTC ETFs, Oct 30: -$643.2 million, the largest day of outflows since June
• Two-session total: a little over $1 billion out across the group
• IBIT cumulative net inflows since launch: still roughly $65.9 billion
• Spot ETH ETFs, Nov 2: about -$140 million, after a record $1.61 billion of outflows in October

IBIT alone has now shed around $639 million across the last two trading sessions, after losing $233.7 million on Friday. We covered Friday's sell-off in Bitcoin (BTC) ETFs Lose $643M in a Day After Binance Hack.

Why investors are pulling money from Bitcoin ETFs

There is no single trigger, but several pressures are stacking up at once.

The first is the record $6.3 billion Binance hack on October 29. Even though Binance has reopened most withdrawals and says it has replenished the bulk of the stolen assets, the attack raised questions about the safety of crypto market infrastructure. Some analysts describe the ETF selling as a short-term sentiment shock rather than a loss of long-term institutional interest. Edwin Mata, chief executive of tokenization firm Brickken, said investors tend to cut exposure when uncertainty rises, and that the outflows should not be read as a rejection of digital assets.

The second is the wider risk-off mood. A sell-off in US chip stocks has pushed the Nasdaq 100 into correction territory, and that weakness spilled into Asian markets on Tuesday. Bitcoin has been trading closely with tech stocks, so it has not escaped.

The third is timing. Americans vote in the midterm elections today, and many traders appear to be cutting risk until the results are clear. Uncertainty over US interest rates adds to the caution.

It is worth keeping the size in perspective: even after two heavy days, IBIT's lifetime inflows remain above $65 billion, and Friday's outflow was less than 1% of total assets held by US spot Bitcoin ETFs.

Bitcoin (BTC) price and market reaction

Bitcoin briefly dipped below $76,400 on Monday, its lowest level since August, and has struggled to hold the $77,000 area since. Prices from the OKX exchange at the time of writing:

• Bitcoin (BTC): about $76,590, down roughly 2.1% in 24 hours
• Ether (ETH): about $2,255, down roughly 1.9%
• Solana (SOL): about $91.90, down roughly 3.0%

CoinGlass data cited by market commentators showed around $366 million in leveraged positions liquidated over 24 hours earlier on Tuesday, with long positions (bets on rising prices) making up most of the losses.

You can follow live prices for Bitcoin and other major coins on the Nodora charts page.

What to watch next for Bitcoin ETFs

• Tuesday's flow data: a third straight day of outflows would confirm a shift in institutional appetite, while a return to inflows would suggest Monday was a one-off.
• The US midterm results: results start arriving during the Asian session on Wednesday, and the outcome could shape expectations for crypto legislation.
• Ether ETFs: a seventh straight day of outflows would extend one of the longest losing streaks for the funds this year.
• Binance recovery updates: further progress on withdrawals and frozen funds could help steady sentiment.

This article is for information only and is not financial advice.

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This article is general information, not financial advice.