IBIT Experiences Largest Withdrawal Since June as Bitcoin ETF Outflows Continue
On Monday, BlackRock's Bitcoin exchange-traded fund experienced withdrawals totaling $405.3 million, contributing to nearly $399 million in net outflows across US spot Bitcoin funds at the start of November.
On Monday, BlackRock's iShares Bitcoin Trust (IBIT) experienced its most significant single-day withdrawal since June, as exchange-traded funds (ETFs) tracking spot Bitcoin in the United States began November with continued investor redemptions.
Data from Farside Investors indicates that the funds saw net outflows totaling $398.6 million, with IBIT accounting for $405.3 million of those withdrawals.
The outflow from IBIT represented its most substantial withdrawal since June 26, when the fund saw investors withdraw $444.5 million. Meanwhile, Fidelity's Wise Origin Bitcoin Fund (FBTC) managed to draw in $6.7 million on Monday, providing some balance against the overall outflows.
These redemptions came on the heels of $515 million in net outflows from US spot Bitcoin ETFs throughout October. Year-to-date in 2026, the funds have experienced approximately $38 million in net outflows.
I wouldn't interpret these outflows as a rejection of digital assets. Investors reduce exposure when uncertainty rises, particularly after an event that raises questions about the security of market infrastructure.
Edwin Mata, CEO of tokenization company Brickken
The investor withdrawals occurred against a backdrop of widespread cryptocurrency market turbulence in the wake of the $6.3 billion Binance hack.
According to CoinGecko, Bitcoin momentarily dropped below $76,400 on Monday, marking its weakest price point since August. At the time of publication, the cryptocurrency was trading around $76,600, reflecting a 3.7% decline over the previous seven days.
US spot Ether (ETH) ETFs similarly experienced approximately $140 million in net outflows on Monday, prolonging their losing streak to six consecutive trading days following a record-breaking $1.61 billion in monthly outflows during October, based on SoSoValue data.