BlackRock’s iShares Bitcoin Trust records $405.3 million outflow, part of $548 million crypto ETF withdrawals
On November 2, BlackRock’s iShares Bitcoin Trust (IBIT) saw net redemptions of $405.3 million, the largest daily outflow since June. The outflow contributed to a total of $548.2 million withdrawn from BlackRock’s spot Bitcoin and Ethereum ETFs on the same day. BlackRock said the sales are mechanical, driven by investor redemptions, and do not reflect a change in its view on Bitcoin. The withdrawals followed broader market stress after the late‑October Binance hack.
Why it matters
The redemption‑driven selling adds supply pressure to Bitcoin and Ethereum markets, potentially depressing prices in the short term. The outflows also signal weakening institutional demand for crypto‑linked ETFs, which could affect fund flows and asset‑manager revenue.
Key facts
- 1IBIT recorded a net outflow of $405.3 million on November 2. en.bloomingbit.io
- 2BlackRock’s iShares Ethereum Trust (ETHA) recorded a net outflow of $138.3 million on the same day. finbold.com
- 3Combined net outflows from BlackRock’s spot Bitcoin and Ethereum ETFs totaled $548.2 million. finbold.com
- 4The outflows were driven by investor redemptions, not a strategic shift by BlackRock. tradingview.com
- 5Bitcoin was trading near $80,000–$82,000 in late October 2026 when the fund’s holdings were transferred. tradingview.com
- 6The withdrawals followed a $6.3 billion Binance hack reported on October 29, which heightened market uncertainty. finbold.com
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.