BlackRock’s iShares Bitcoin Trust (IBIT) shed $405.3 million on Monday, its largest single-day outflow since June, as U.S. spot BTC ETFs opened November with roughly $399 million in net redemptions, according to Farside Investors data cited by Cointelegraph.
The previous comparable exit came on June 26, when investors pulled $444.5 million from the fund. Fidelity’s FBTC drew $6.7 million on the day, partially offsetting the redemptions. Monday’s flows extend a streak of selling that began late last week: spot bitcoin ETFs lost $643.3 million on October 30, their largest single-day outflow since June.
The pressure isn’t limited to bitcoin products. U.S. spot ETH ETFs saw about $140 million in net outflows on Monday, stretching their losing run to six trading days after a record $1.61 billion in monthly outflows in October, per SoSoValue. For bitcoin funds, October closed with $515 million in net outflows, leaving 2026 at roughly $38 million in net outflows year-to-date.
The redemptions follow a run of shocks. ETF selling has continued since the October 29 Binance security breach, which affected more than $6.3 billion in crypto assets. Macro conditions have also turned against risk assets: the Nasdaq-100 entered a correction on Monday, and Americans are voting in the midterms today. Bitcoin slipped 2.19% to around $76,455, extending its seven-day decline to 3.59%.
Some market participants say the selling reflects risk management rather than a retreat from the asset class. Brickken CEO Edwin Mata said he “wouldn’t interpret these outflows as a rejection of digital assets,” arguing that investors cut exposure when uncertainty rises.
Near-term flows are likely to track the macro calendar. Midterm results land overnight, and the October U.S. employment report is due on November 6. A sustained return to inflows would be the first signal that institutional demand is stabilizing after the Binance shock.
