BlackRock's IBIT Sees $405.3 Million Bitcoin (BTC) ETF Outflow, Largest Since June

IBIT Logs Largest Outflow Since June

BlackRock's iShares Bitcoin (BTC) Trust (IBIT) recorded $405.3 million in net outflows on Monday, Nov. 2, the fund's largest single-day redemption since June 26, when it shed $444.5 million in one session. The exit made IBIT the dominant driver of a $398.6 million net outflow across the US ETF complex for spot Bitcoin (BTC) on the first trading day of November, per daily issuer flow disclosures. The redemption lands in a Bitcoin ETF market that has spent much of 2026 on the defensive. Fidelity's Wise Origin Bitcoin Fund (FBTC) moved the other way, taking in $6.7 million and offsetting a small part of the BlackRock exit, a reversal from sessions such as the $6.68 million net inflow via BlackRock's IBIT recorded in an earlier session. IBIT's redemption alone exceeded the category's net total, with other funds close to flat in aggregate. Because a spot ETF holds Bitcoin (BTC) directly, net creations and redemptions feed through into spot trading flows, so a redemption on this scale translates into genuine selling pressure on the underlying coin. Each business day issuers report creations and redemptions, and the aggregate across funds is read as the most direct window into institutional appetite. On that reading, large managers trimmed exposure on a day when the asset itself was sliding: the Bitcoin price dipped below $76,400 during Monday's session, its weakest level since August, before recovering part of the loss. At the time of writing the coin changes hands at $77,184, up 0.2% since the flow data was published and down 0.9% over 24 hours. The combination of an outflow-heavy ETF complex and a fragile price floor frames the question hanging over the market: whether institutional demand is pausing or leaving.

COINOTAG's composite scoring places the nearest support at $76,177, where the lower Bollinger band, the 100-day simple moving average and the 200-day exponential moving average converge, scored 89 out of 100. Overhead, resistance at $78,118, reinforced by the 100-day exponential moving average and the 0.382 Fibonacci retracement, carries a score of 96 out of 100. With spot at $77,184, the market sits in a narrow band between two strong levels. Positioning looks contained: perp funding reads 0.0070%, and the long/short account ratio stands at 2.79, with 73.6% of accounts still long. The wider Bitcoin technical analysis map keeps the trend down, and the Fear and Greed Index reads 26 out of 100, deep in fear territory.

October Flows and the Binance Overhang

The Monday redemption extended a trend rather than starting one. US spot Bitcoin (BTC) ETFs recorded $515 million in net outflows across October, and cumulative net outflows for 2026 stand at roughly $38 million, so a heavy exit on the first trading day of a new month deepens the concern that institutional demand is cooling. The backdrop is a market still digesting a $6.3 billion hack of Binance last week, an event that amplified volatility across crypto and weighed on risk appetite. Interpretations differ on what the flows mean. Edwin Mata, chief executive of the tokenization firm Brickken, argued that investors tend to reduce exposure to risk assets when uncertainty widens, and that security incidents raising doubts about market infrastructure can reinforce that behavior. In his assessment, the recent outflows do not amount to a loss of confidence in digital assets themselves. The weakness is not confined to Bitcoin. US spot Ethereum ETFs posted about $140 million in net outflows on Nov. 2, a sixth consecutive day of redemptions, after October set a monthly record with $1.61 billion leaving the funds. The streak shows the Ethereum side of the outflow problem is not a one-off either. Simultaneous exits from the Ethereum ETF side and the Bitcoin funds point to a broad pullback in institutional appetite following the Binance incident. Bitcoin had lost 3.7% over the seven days to the flow report, a pace that keeps pressure on the funds even as spot steadies near $77,184. The distribution matters for how the session is read: a single product accounted for more than the whole category's net exit, and Fidelity's $6.7 million inflow was the only sizeable counterweight disclosed. The disclosures do not identify the investors behind the redemptions, so whether whale-scale holders were reducing exposure or choosing to HODL through the drawdown cannot be read from the published data.