US Spot Bitcoin ETFs Record $398.6 Million Net Outflow on November 2 Led by BlackRock IBIT Redemptions
What happened
US-listed spot Bitcoin ETFs recorded a net outflow of $398.6 million on November 2, 2026, driven primarily by $405.3 million in redemptions from BlackRock’s IBIT fund.
The Context
* Redemptions hit key issuers: BlackRock’s IBIT led total withdrawals, offset only by a modest $6.7 million inflow into Fidelity’s FBTC, while all other funds saw flat flows. * Macro pressure mounts: The pullback marks a second consecutive session of net selling—following a $643.2 million exit on October 30—partially triggered by market volatility after an exchange security incident exceeding $6 billion in losses. * Broad market contagion: The outflows coincided with Bitcoin dropping below $76,400 and Ether ETFs logging a parallel $140 million exit streak across six consecutive trading days.
The Number
— this net single-day reduction proves that even after absorbing $56.6 billion in cumulative lifetime inflows, tier-one institutional vehicles will rapidly de-risk when headline counterparty stability fractures.
Takeaway
Expect fund managers to hold defensive cash buffers until institutional redemption velocity across BlackRock and Fidelity products flattens over consecutive trading cycles.
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