TLDR
- BlackRock’s IBIT recorded $105 million in net outflows on November 5.
- IBIT accumulated $1.04 billion in withdrawals across five consecutive trading sessions.
- U.S. spot Bitcoin ETFs recorded $430.2 million in net outflows on November 5.
- Fidelity’s FBTC led the day’s withdrawals with $199.9 million.
- Bitcoin ETFs lost $869.8 million during the first four November trading sessions.
BlackRock’s iShares Bitcoin Trust (IBIT) recorded $105 million in net outflows on November 5, according to Farside Investors. The withdrawal extended its losing streak to five consecutive trading sessions. During that period, IBIT accumulated $1.04 billion in net withdrawals. Meanwhile, U.S. spot Bitcoin ETFs recorded $430.2 million in total outflows on Thursday. The withdrawals followed a brief recovery in Bitcoin ETF inflows, raising questions about the strength of institutional demand.
BlackRock’s Bitcoin ETF Records Five Straight Outflows
BlackRock’s IBIT has recorded consecutive daily outflows since October 30, according to Farside Investors. The fund lost $233.7 million on October 30 and another $405.3 million on November 2. Withdrawals continued with $95 million on November 3 and $201.2 million on November 4.
The latest $105 million withdrawal brought cumulative outflows across those five sessions to $1.04 billion. The selling pressure followed earlier weakness in exchange-traded products. CoinCentral’s November 3 report on Bitcoin ETF withdrawals documented $398.6 million in industry outflows on November 2.
Despite continued withdrawals from IBIT, the broader ETF market briefly recovered on November 4. U.S. Bitcoin ETFs attracted $74.6 million that day, supported by $236.7 million flowing into Fidelity’s FBTC. However, BlackRock’s fund continued recording net redemptions. The divergence coincided with Bitcoin’s recovery above $77,000 following the midterm elections. The rebound proved short-lived as market weakness returned the following day.
Fidelity Leads $430 Million Bitcoin ETF Withdrawal
Fidelity’s FBTC recorded $199.9 million in outflows on November 5, reversing its previous day’s inflows. BlackRock’s IBIT followed with $105 million in withdrawals, while Grayscale’s GBTC lost $49.9 million.
Franklin Templeton’s EZBC recorded $32.9 million in outflows. VanEck’s HODL lost $23.6 million, while ARK 21Shares’ ARKB shed $18.9 million. The six remaining tracked funds reported no net inflows or outflows during Thursday’s session.
Across November’s first four trading sessions, Bitcoin ETFs accumulated $869.8 million in net withdrawals. BlackRock’s IBIT accounted for $806.5 million of that amount. The figures indicate sustained redemption pressure despite Wednesday’s temporary improvement in aggregate ETF flows.
ETF Withdrawals Do Not Confirm Direct BlackRock Sales
The reported withdrawals do not independently establish that BlackRock sold $105 million in Bitcoin through discretionary trading. According to BlackRock’s iShares documentation, IBIT creates and redeems shares through authorized participants.
JUST IN: BlackRock ETF clients sold $104.97 million worth of $BTC. pic.twitter.com/hpm2oJqiUJ
— Whale Insider (@WhaleInsider) November 6, 2026
Consequently, reported ETF outflows measure net fund redemptions rather than BlackRock’s direct investment decisions. The available figures also do not identify individual sellers or establish the precise Bitcoin transactions behind Thursday’s redemptions.
The ETF withdrawals coincided with renewed weakness across cryptocurrency and U.S. equity markets. Bitcoin reversed its post-election gains during Thursday’s trading session, while technology stocks experienced significant declines.
As detailed in the November 6 report on Bitcoin slipping below $76,000, BTC fell to approximately $75,463 on Bitstamp during Thursday’s decline. The report also highlighted substantial liquidations across cryptocurrency derivatives markets.
