BlackRock's IBIT loses $405M, its biggest outflow since June

What happened. Farside Investors data show US spot bitcoin ETFs lost $398.6 million on November 2, the first trading day of the month. Almost all of it came from BlackRock's IBIT: $405.3 million out. Fidelity's FBTC took in $6.7 million and softened the picture a little.

Biggest since June. Cointelegraph says it was IBIT's largest daily outflow since June 26, when $444.5 million left the fund.

Two bad days in a row. On the previous trading day, October 30, bitcoin ETFs lost $643.2 million. Together the two days come to about $1.04 billion. That is our sum of Farside data. Before that, from October 26 to 29, the funds had four days of inflows in a row.

October and the year. According to Cointelegraph, spot bitcoin ETFs lost $515 million in October, and net outflows so far in 2026 are about $38 million. So over the year, money in and money out have nearly cancelled out.

Ether is down too. US ether ETFs lost $139.7 million on November 2, with $138.3 million of it from BlackRock's ETHA (Farside data). Cointelegraph says it is the sixth day of outflows in a row after a record $1.61 billion out in October.

Why people sell. Cointelegraph links the outflows to volatility after the $6.3 billion Binance hack. Bitcoin briefly fell below $76,400 on Monday, its lowest since August according to CoinGecko. We do not know who exactly sold: ETF data only show the daily total.

How to read it. One day is not a trend. But two big outflows in a row, after a hack and before an election, show that big investors are cautious right now. That is our view, not a forecast.

Where to look. What well-known traders and investors think about bitcoin: https://freekonomist.com/en/crowd/ . This is an overview, not advice.

Confirmed facts

• Farside: on November 2, 2026 US spot bitcoin ETFs had net flows of minus $398.6 million; IBIT minus $405.3 million, FBTC plus $6.7 million.^[1]
• Farside: on October 30, 2026 net flows were minus $643.2 million (IBIT minus $233.7 million); October 26 to 29 were four days of inflows.^[1]
• Cointelegraph: it was IBIT's largest daily outflow since June 26, when $444.5 million left.^[2]
• Cointelegraph: bitcoin ETFs lost $515 million in October, with net outflows of about $38 million so far in 2026.^[2]
• Farside: US ether ETFs had minus $139.7 million on November 2, of which ETHA minus $138.3 million.^[3]
• Cointelegraph: ether ETFs extended their outflow streak to six trading days after a record $1.61 billion out in October (SoSoValue data).^[2]
• Cointelegraph: bitcoin briefly fell below $76,400 on Monday, its lowest since August according to CoinGecko.^[2]

Implications

• ConfirmedNovember in bitcoin ETFs began with money leaving, not coming back.
• Our readingAbout $1.04 billion left bitcoin ETFs over two trading days, October 30 and November 2. That is our sum.
• Our readingBig investors are cautious after the Binance hack and ahead of the US elections. That is our view, not a forecast.

Still unknown

• Who exactly sold IBIT shares
• Whether outflows continue after the US midterm elections
• How news on the Binance hack investigation will affect flows

Who it affects

USA, World. People who hold bitcoin or ether and follow money flows into ETFs

Sources

1. Farside Investors: Bitcoin ETF Flow (US$m) · official
2. Cointelegraph: BlackRock's IBIT sees biggest Bitcoin ETF outflows since June November 3, 2026 · media
3. Farside Investors: Ethereum ETF Flow (US$m) · official