BlackRock’s IBIT Bleeds $2 Billion in Nine Straight Days of Outflows

The broader group of 11 funds has lost about $1.44 billion over the past five trading days and roughly $1.88 billion in November, with outflows on seven of the month’s eight sessions.

IBIT accounts for about $1.77 billion of November’s outflows, or roughly 94% of the total. The fund’s two largest daily outflows of the year, $405.3 million and $403 million, both came this month.

Despite the recent redemptions, IBIT remains positive for the year with about $2.45 billion in net inflows and roughly $64.5 billion since its launch in January 2024.

Broader Market Impact

The selling has flipped the year’s net flows for U.S. spot bitcoin ETFs, which are now down about $1.42 billion in 2026, compared with roughly $25.2 billion of inflows at the same point last year.

Bitcoin traded near $72,800 early Thursday, close to its weakest level since Aug. 20, and is down roughly 6% over the past week.

The outflows have also erased this year’s net inflows into the funds, as noted by the Australian Financial Review.

External Factors

The withdrawals come just days after BlackRock argued that security fears were driving bitcoin whales out of self-custody and into IBIT.

A hotter-than-expected October inflation report lifted bets on a Federal Reserve rate hike in December, and Polymarket odds of a hike climbed to about 97%. Higher rates make cash and bonds more attractive relative to assets like bitcoin.

Tech stocks have added pressure. Nvidia shares fell roughly 9% after Wednesday’s close following reports that its board was preparing to remove CEO Jensen Huang, and Nasdaq 100 futures slid with them.

Index Changes

Index provider MSCI confirmed after Wednesday’s close that it will remove Strategy (MSTR) from its indexes after Nov. 30, a decision that forces tracking funds to sell shares of the largest corporate bitcoin holder.

Grayscale’s GBTC lost $39.1 million on Wednesday, while Morgan Stanley’s MSBT was the only fund to take in money, about $9 million. The rest of the funds reported no flows.

Next Steps

ETF flows for Thursday will be reported after the close. The test now is whether IBIT snaps its streak before it matches the 13-day run from the spring, or whether the steady redemptions keep weighing on the bitcoin price heading into the Fed’s December meeting.