$1.66 Billion Withdrawn from BlackRock Bitcoin ETF in Seven Trading Sessions

The iShares Bitcoin Trust (IBIT) spot Bitcoin ETF by BlackRock recorded seven consecutive trading sessions with net outflows, reaching $1.66 billion from October 30 to November 9, 2026. According to Farside Investors, on Monday, November 9, another $213.2 million was withdrawn from the fund, extending the negative streak. Meanwhile, the total net outflow from all US spot Bitcoin ETFs for the day was $201 million.

The outflow from IBIT was larger than the overall market result due to inflows into other funds. Specifically, the Morgan Stanley Bitcoin Trust ETF (MSBT) received $22.1 million, partially offsetting the capital withdrawal from competitor products. Another $9.9 million was withdrawn from the ARK 21Shares Bitcoin ETF (ARKB), while other funds did not record significant net flows.

Outflow from IBIT continues since late October

The series of negative results for IBIT began on October 30, when the fund lost $233.7 million. The largest outflows during the period occurred on November 2 and 6, when $405.3 million and $403 million were withdrawn from the BlackRock product, respectively. The cumulative result of the seven trading sessions was -$1,656.4 million.

Meanwhile, the situation in the entire Bitcoin-ETF market was somewhat different. For example, on November 4, US spot funds received a net inflow of $74.6 million, although $201.2 million was withdrawn from IBIT that day. Thus, the seven consecutive negative sessions pertain specifically to the BlackRock fund, not all US Bitcoin investment instruments.

Over six trading sessions from November 2 to 9, US BTC-ETFs collectively lost about $1.48 billion. However, on Monday, the outflow decreased compared to the previous Friday, when it was $411.9 million. Despite the slowdown, the overall result of the last three trading sessions remained negative.

According to market statistics, since the beginning of 2026, US spot Bitcoin ETFs have recorded a net outflow of about $1.1 billion. However, the accumulated result since the launch of these instruments in January 2024 remained positive at approximately $55.6 billion. Therefore, the current outflows do not mean that the funds have lost all previously attracted capital.

Outflow from Ethereum-ETF intensified

The negative trend also affected exchange-traded funds investing in Ethereum. According to Farside Investors, on November 9, the total net outflow from US spot ETH-ETFs was $184.6 million, marking the highest daily figure since October 6. The largest share came from the ETHA fund by BlackRock, from which $119.3 million was withdrawn.

Amid shrinking cash flows, the cryptocurrency market fear and greed index, calculated by Alternative.me, rose to 32 points on November 10, compared to 29 the previous day and 26 a week earlier. Despite the improvement in the indicator, the market continued to be in the 'Fear' zone. This indicates cautious sentiments among participants but does not in itself allow for predicting further price movements.

At the time of preparing the initial market review, Bitcoin was trading around $74,594. Over the previous seven days, its value decreased by approximately 2.8%, although a slight recovery was observed over the last 24 hours. However, ETF statistics reflect only operations with exchange-traded investment products and do not cover the entire demand for BTC.

Coinbase received federal status for digital asset custody

Simultaneously with the continued outflows from cryptocurrency ETFs, Coinbase announced the launch of Coinbase National Trust Company. The authorization to create the structure, issued by the US Office of the Comptroller of the Currency (OCC), came into effect on November 6. It allows the company to develop digital asset custody services for institutional clients under federal oversight.

Market participants noted that the news was not accompanied by a noticeable rise in cryptocurrencies. Kevin Boev, Head of Business Development at Palladium Network, considers the discrepancy between the dynamics of stocks and digital assets a sign of weak demand in the crypto market. However, this assessment reflects the specialist's opinion and does not prove a causal link between Coinbase's banking status, ETF cash flows, and Bitcoin's price.

Thus, new opportunities for institutional digital asset custody have emerged against the backdrop of continued capital outflows from certain cryptocurrency funds. Meanwhile, BlackRock's statistics show a persistent negative series, while the cumulative flows of all BTC-ETFs varied on different trading days.