Bitcoin ETF outflows continued for a fifth straight trading session on November 11, as U.S. spot funds recorded a provisional $299.8 million in net withdrawals. BlackRock’s IBIT accounted for $269.7 million of that day’s outflow, according to the latest tally available on November 12. The data remains incomplete.
- About $1.44 billion left U.S. spot Bitcoin funds across the five sessions from November 5 to November 11, according to Farside Investors data cited by BeInCrypto.
- IBIT’s withdrawals over that stretch totaled about $1.07 billion, based on the tracker’s partial November 11 reading.
- Only six of 12 funds had reported November 11 flows in the latest tally, so the day’s total could change.
- Morgan Stanley’s MSBT recorded $9 million in inflows on November 11, while Grayscale’s GBTC lost $39.1 million.
- Bitcoin traded at $73,564 at 06:13 UTC on November 12, down 8.66% over seven days, according to CoinGecko.
Timeline of Bitcoin ETF outflows
- November 2: IBIT recorded $405.3 million in withdrawals, its largest daily outflow since June, according to BeInCrypto. This was before the five-session run covered here.
- November 5: U.S. spot funds lost $430.2 million. Fidelity’s FBTC led the day with $199.9 million in outflows, followed by IBIT at $105 million, CoinDesk reported. The withdrawals came amid a wider market selloff.
- November 6: The funds shed another $411.9 million, including $403 million from IBIT. The Block reported that IBIT made up 88% of the day’s gross outflows.
- November 9 and 10: Net withdrawals continued, at $201 million and $95 million, respectively, in the daily data published by BeInCrypto from Farside Investors.
- November 11: Six of 12 funds had reported by the latest November 12 tally. The provisional net outflow was $299.8 million, including $269.7 million from IBIT, according to cryptoetf.today.
Background: a concentrated withdrawal wave
The latest Bitcoin ETF outflows were concentrated rather than evenly spread across products. BeInCrypto’s review of the five-session period found that roughly three-quarters of the money leaving the funds came from IBIT. On November 11, most products had no reported flow, while IBIT alone saw $269.7 million leave.
The figures show that IBIT accounted for most of the reported withdrawals in this period, while some flows went in the opposite direction. The five-session totals are based on the available fund reports, and the November 11 reading is partial. They do not establish why individual clients redeemed shares.
These are client redemptions from an exchange-traded product, not BlackRock selling its own Bitcoin, BeInCrypto reported. The outlet also said shrinking fund assets cut directly into the firm’s fee income. The five-day run followed a completed November 2 to 6 trading week in which spot funds lost $1.28 billion, their worst weekly result since late June, according to The Block. By November 7, the funds’ 2026 net flows had turned negative.
BeInCrypto reported that the products still held about $55 billion in net inflows since their 2024 launch. That longer-term figure provides context for the recent withdrawals, but does not change the reported short-term outflows.
Reactions and market context
Morgan Stanley’s MSBT brought in money on November 9, 10 and 11, with about $51 million combined over those three sessions, according to BeInCrypto. That total was smaller than IBIT’s reported losses. GBTC recorded a $39.1 million outflow on November 11; BeInCrypto described it as another outflow in the fund’s longer decline since conversion.
CoinDesk reported that the November 5 market retreat followed a 5.5% Nasdaq drop and a 4.3% S&P 500 decline. The outlet said analysts at FalconX and GSR linked the broader market move to concerns that the midterm-election outcome could slow AI data-center construction and add to doubts about returns on infrastructure spending. This was the analysts’ explanation for the wider market retreat, not evidence of the cause of each ETF redemption.
CoinGecko’s November 12 figures, recorded at 06:13 UTC, showed Bitcoin down over both the previous 24 hours and seven days.
| Measure | Bitcoin |
|---|---|
| Price on November 12, 2026, at 06:13 UTC | $73,564 |
| 24-hour change | -0.28% |
| 7-day change | -8.66% |
The Crypto Fear & Greed Index was 28, classified as Fear, on November 12, according to Alternative.me. The index records a sentiment classification; the supplied evidence does not establish it as a forecast.
Outlook: what to watch next
Future reports will show whether IBIT’s redemptions persist and whether flows into MSBT or other funds change. The November 11 total is provisional because only six of 12 funds had reported. Comparing subsequent tallies with the five-session sequence will provide more information than relying on the partial daily snapshot alone.
The available figures show concurrent Bitcoin price declines and ETF outflows over the reported periods, but they do not establish that one caused the other. Nor do the flow totals identify why clients redeemed shares. Those limitations matter when interpreting a provisional count or drawing conclusions about demand.
FAQ
Why are Bitcoin ETF outflows mostly coming from BlackRock’s IBIT?
The available data shows that IBIT recorded withdrawals on each of the five sessions through November 11. BeInCrypto reported that roughly three-quarters of the money leaving funds over the period came from IBIT. The data does not identify why individual clients redeemed shares.
How much did U.S. spot Bitcoin ETFs lose over five sessions?
About $1.44 billion from November 5 through November 11, according to Farside Investors data cited by BeInCrypto. The November 11 tally was provisional because only six of 12 funds had reported.
Are Bitcoin ETF outflows the same as BlackRock selling Bitcoin?
No. BeInCrypto reported that the flows reflected client redemptions, not BlackRock selling its own Bitcoin.
Sources
- 5 Days of Bitcoin ETF Outflows, Brought to You Mostly by BlackRock (BeInCrypto)
- Bitcoin ETF flows (cryptoetf.today)
- Bitcoin ETFs flip negative for 2026 after $1.28 billion outflow week, worst since June (www.theblock.co)
This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrencies are highly volatile; always do your own research before investing.
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