BlackRock’s iShares Bitcoin Trust (IBIT) recorded $405.3 million in outflows on Monday, marking its largest single-day withdrawal since June 26, when the fund shed $444.5 million. The move came as US spot Bitcoin ETFs posted $398.6 million in net outflows to open November.
Bitcoin fell below $76,400 on Monday, its lowest level since August, and has declined 3.7% over the past seven days. The fund’s outflows occurred amid broader crypto market volatility following a $6.3 billion Binance hack.
The broader ETF complex showed similar pressure. Fidelity’s Wise Origin Bitcoin Fund (FBTC) recorded $6.7 million in inflows on the same day. US spot Ether ETFs posted approximately $140 million in net outflows on Monday and recorded $1.61 billion in monthly outflows during October, extending a six-day losing streak.
October saw sustained selling pressure across Bitcoin products. US spot Bitcoin ETFs posted $515 million in net outflows for the month. Year-to-date, the category has recorded around $38 million in net outflows.
Edwin Mata, CEO of tokenization company Brickken, contextualized the outflows without attributing them solely to the security incident. “I wouldn’t interpret these outflows as a rejection of digital assets,” Mata said. “Investors reduce exposure when uncertainty rises, particularly after an event that raises questions about the security of market infrastructure.”
Bitcoin was trading at $76,600 at publication.
