Spot Bitcoin ETFs Lose $399 Million as Blackrock IBIT Outflows Reach $405 Million

Spot Bitcoin (BTC) exchange-traded funds recorded $399 million in net outflows Monday, Nov. 2, as Blackrock’s IBIT alone shed $405 million, exceeding the group’s overall loss.

Fidelity’s FBTC recorded the largest fund-level inflow, at $6.6815 million. Funds other than IBIT, including FBTC, recorded roughly $6 million in combined net inflows, leaving the group down $399 million.

At publication on Nov. 3, the funds had $98.125 billion in net assets, equal to 6.36% of Bitcoin’s market capitalization. Cumulative net inflows across the funds stood at $56.582 billion. FBTC’s cumulative net inflows were $10.179 billion, while IBIT’s were $65.905 billion.

Daily ETF flows measure changes in fund shares; they do not represent Bitcoin purchases for Blackrock’s corporate holdings. Earlier coverage of spot Bitcoin ETF flows explains the distinction.