U.S. spot bitcoin ETFs have lost $1.04 billion in two trading sessions, and on Monday almost all of the selling ran through a single fund. BlackRock’s iShares Bitcoin Trust (IBIT) recorded $405.3 million in net outflows on Nov. 2, its largest one-day outflow since late June.
The 12 funds together shed $398.6 million on Monday, according to Farside Investors data. Fidelity’s FBTC was the only fund to take in money, at $6.7 million. The other ten reported no flows at all. That came after a $643.2 million outflow on Oct. 30, the previous trading day.
IBIT carried Monday’s selling
The pattern differed between the two sessions. On Oct. 30 the selling was spread across the group: IBIT lost $233.7 million, FBTC $201.0 million, ARK’s ARKB $129.5 million, Grayscale’s GBTC $53.3 million and Bitwise’s BITB $25.7 million. On Monday, IBIT alone accounted for more than the entire net outflow.
By AltcoinReporter’s count of the Farside figures, IBIT’s $405.3 million is its biggest daily outflow since June 26, when it lost $444.5 million. The $1.04 billion two-session total is also the largest for the group since late June.
The size of IBIT makes these swings stand out. SoSoValue data cited by TokenPost put total net assets across the spot bitcoin funds at $98.12 billion on Monday, about 6.36% of bitcoin’s market value, with IBIT holding $61.96 billion of that. IBIT also handled $1.54 billion of the $1.99 billion that traded across the funds that day.
October hid a split between funds
The bitcoin ETF outflows extend a weak stretch. Over the last five sessions the group is down $711.3 million, and October ended with net outflows of $515.9 million based on Farside’s daily data. Bitcoin itself closed October down 7.2% at $77,582.
The monthly total hides a sharp split. IBIT took in a net $932.1 million during October, while FBTC lost $754.5 million, ARKB $444.0 million and GBTC $184.0 million. Monday’s flows reversed that pattern: IBIT was the fund losing money while FBTC was the only one adding.
Daily flow data shows the creation and redemption of fund shares. It does not say who is selling or why, and the figures can be revised as issuers report. Even after the latest withdrawals, the funds hold about $56.65 billion in cumulative net inflows since their January 2024 launch, by Farside’s tally.
Ether funds are on a six-day losing run
Spot ether ETFs had a similar Monday. They lost $139.7 million on Nov. 2, Farside’s ether table shows, with BlackRock’s ETHA responsible for $138.3 million of it. That was the sixth straight session of net outflows for the ether funds, worth $571.1 million in total.
In dollar terms their October was worse than bitcoin’s. The ether ETFs had $1.61 billion in net outflows over the month. ETHA posted outflows on every trading day from Oct. 26 onward, while Fidelity’s FETH added money on four of those six sessions.
Where prices stand
Bitcoin was trading near $76,590 on Tuesday, down about 2% over 24 hours, according to CoinGecko. Ether was near $2,252, down about 1.6%. Bitcoin remains below its October close.
The next few sessions will show whether Monday’s IBIT outflow was a one-off or the start of a steadier move out of the largest fund. For now, the funds have given back more than their late October inflows: the three positive sessions from Oct. 26 to Oct. 28 brought in $423.6 million, less than half of the two-session outflow that followed.
FAQ
How much left spot bitcoin ETFs on Nov. 2?
A net $398.6 million, according to Farside Investors. BlackRock’s IBIT lost $405.3 million, partly offset by a $6.7 million inflow into Fidelity’s FBTC.
Is this IBIT’s biggest outflow ever?
No. It is the largest since June 26, when IBIT lost $444.5 million. Its record daily outflow in Farside’s data is $528.3 million.
Did ether ETFs also see outflows?
Yes. Spot ether funds lost $139.7 million on Nov. 2, their sixth straight session of net outflows, for a total of $571.1 million over that run.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
