BlackRock's IBIT logs $1.66B outflow run over seven sessions

What happened

BlackRock's iShares Bitcoin Trust (IBIT) recorded its seventh consecutive trading session of net withdrawals on Monday, with $213 million leaving the fund, according to Farside Investors data cited by Bitcoinist. The redemptions brought IBIT's cumulative outflows since Oct. 30 to $1.66 billion. The report described the run as the flagship Bitcoin ETF's longest recent outflow sequence.

The same snapshot showed $201 million in net outflows across US spot Bitcoin ETFs on Monday, a smaller drain than Friday's $412 million. Morgan Stanley's Bitcoin Trust ETF (MSBT) attracted $22 million in inflows, offsetting part of the selling. Over six trading sessions, about $1.5 billion left the US spot Bitcoin ETF complex, and year-to-date net withdrawals stood near $1.1 billion.

The withdrawals did not stop there. Cointelegraph reported on Wednesday that IBIT had lost more than $2 billion over nine consecutive sessions, including $269.7 million on Wednesday. US spot Bitcoin ETFs recorded nearly $300 million in net outflows that day, and five-session withdrawals reached $1.44 billion. Grayscale's Bitcoin Trust ETF (GBTC) lost $39.1 million, while MSBT drew $9 million in inflows, according to the report.

Why it matters

IBIT is the largest US Bitcoin ETF by assets and a primary route for institutional and retail exposure through brokerage accounts, so its flow pattern is closely watched as a real-time gauge of demand. The concentration of redemptions in IBIT makes the fund a visible indicator of broader sentiment shifts, Bitcoinist noted. When large holders or advisers cut allocations, the effect tends to appear first and most clearly in the largest vehicle.

The outflow streak also contrasts with recent institutional and regulatory developments. Coinbase's US national trust bank charter took effect in recent days, a milestone that in earlier cycles might have supported risk appetite, but market participants observed a muted crypto price reaction. Not every fund is under the same pressure: smaller products such as MSBT have occasionally drawn inflows, suggesting some investors are rotating within the Bitcoin ETF complex rather than leaving the asset class entirely.

What the data shows

The flow data came from multiple providers and snapshots. Bitcoinist, citing Farside Investors, reported $213 million in IBIT outflows on Monday and $201 million across US spot Bitcoin ETFs. Blockonomi, citing SoSoValue, reported $95.0 million in net outflows from US spot Bitcoin ETFs on Nov. 10, extending a streak to four consecutive days. The reports used different data sources and time windows, and the figures are not directly comparable.

Sentiment indicators showed only modest improvement. The Crypto Fear & Greed Index rose to 32 from 29 the previous day and 26 a week earlier, though it remained in "Fear" territory, Bitcoinist reported. Cointelegraph cited Bitfinex research finding that in earlier ETF outflow streaks, Bitcoin gained a median 6.4% over 10 trading sessions when the streaks ended with at least three consecutive sessions of net inflows. Bitfinex said slowing outflows could be an early step toward a market floor but were not enough on their own to establish a recovery.

Background

The seven-session run marks a reversal from the prior two years. By early November in both 2024 and 2025, US spot Bitcoin ETFs had recorded roughly $25 billion in net inflows, according to Bitcoinist. In 2026, by contrast, year-to-date flows have turned negative. The report cited elevated macroeconomic uncertainty, equity-market volatility tied to AI and technology stocks, residual caution after high-profile exchange security incidents, and a general reduction in risk appetite among some institutional allocators.

Bitcoin's price action reflected the shift. Bitcoinist reported that Bitcoin traded near $74,200, $74,600 on Monday, down roughly 2, 3% over the prior seven days. Blockonomi, citing CoinGecko, put BTC near $73,900 on Nov. 11, down about 5% over seven days. Cointelegraph later reported Bitcoin near $73,000, down 8.5% over the past week. Ether ETFs also saw about $185 million in outflows on Monday, their largest daily withdrawals since early October, according to Bitcoinist.

What to watch

Market participants are watching whether the redemption streak ends with sustained inflows rather than a one-day pause. Cointelegraph reported that Laser Digital's derivatives desk pointed to weak spot demand, a persistently negative Coinbase premium and large liquidations of leveraged long positions. The desk also noted that Bitcoin barely rose during a Monday rebound in the Nasdaq, which gained almost 3%.

Upcoming economic data, the direction of equity markets and any change in broader risk appetite are likely to shape whether the outflow period proves temporary or part of a longer de-risking phase, according to Bitcoinist. For now, the reported data show IBIT's outflow run and a negative year-to-date flow picture for US spot Bitcoin ETFs.

Questions readers ask