BlackRock's iShares Bitcoin Trust (IBIT) recorded $105 million in net outflows on November 5, according to Farside Investors. The withdrawal extended the fund's losing streak to five consecutive trading sessions, during which IBIT accumulated $1.04 billion in net withdrawals. Across the broader U.S. spot Bitcoin ETF market — funds that hold Bitcoin directly rather than derivatives contracts — Thursday brought $430.2 million in total outflows, a renewed wave of redemptions that followed a brief recovery in Bitcoin ETF inflows and raised questions about the strength of institutional demand.

Five Straight Sessions of Outflows for IBIT

Data from Farside Investors show that IBIT has recorded consecutive daily outflows since October 30. The fund lost $233.7 million on October 30 and another $405.3 million on November 2. Withdrawals continued with $95 million on November 3 and $201.2 million on November 4, before the latest $105 million redemption brought cumulative outflows across the five sessions to $1.04 billion — an average of roughly $208 million per session. IBIT debuted in January 2024 in the first wave of U.S. spot Bitcoin ETFs and has since grown into the category's largest fund by assets, making its daily flows a routine reference point in industry coverage of institutional Bitcoin exposure.

The selling pressure followed earlier weakness in exchange-traded products. CoinCentral's November 3 report on Bitcoin ETF withdrawals documented $398.6 million in industry outflows on November 2.

Despite continued withdrawals from IBIT, the broader ETF market briefly recovered on November 4, when U.S. Bitcoin ETFs attracted $74.6 million in net inflows, supported by $236.7 million flowing into Fidelity's FBTC. BlackRock's fund, however, continued to record net redemptions. The divergence coincided with Bitcoin's recovery above $77,000 following the midterm elections. The rebound proved short-lived, as market weakness returned the following day.

Fidelity Leads $430 Million Day of Withdrawals

Fidelity's FBTC recorded $199.9 million in outflows on November 5, reversing its previous day's inflows in a sharp swing from the $236.7 million it had attracted the session before. BlackRock's IBIT followed with $105 million in withdrawals, while Grayscale's GBTC lost $49.9 million and Franklin Templeton's EZBC recorded $32.9 million in outflows. VanEck's HODL lost $23.6 million, while ARK 21Shares' ARKB shed $18.9 million. The six remaining tracked funds reported no net inflows or outflows during Thursday's session.

Across November's first four trading sessions, Bitcoin ETFs accumulated $869.8 million in net withdrawals, with BlackRock's IBIT accounting for $806.5 million of that amount — roughly 93 percent of the category's total. The figures indicate sustained redemption pressure despite Wednesday's temporary improvement in aggregate ETF flows. Upcoming daily updates from Farside Investors will show whether IBIT's streak extends beyond five sessions and whether aggregate flows stabilize.

Outflows Do Not Confirm Direct BlackRock Sales

The reported withdrawals do not independently establish that BlackRock sold $105 million in Bitcoin through discretionary trading. According to BlackRock's iShares documentation, IBIT creates and redeems shares through authorized participants — typically large institutional intermediaries that handle the underlying Bitcoin when shares are created or redeemed.

JUST IN: BlackRock ETF clients sold $104.97 million worth of $BTC.

— Whale Insider (@WhaleInsider) November 6, 2026

Consequently, reported ETF outflows measure net fund redemptions rather than BlackRock's direct investment decisions. The available figures also do not identify individual sellers or establish the precise Bitcoin transactions behind Thursday's redemptions.

Bitcoin Gives Back Post-Election Gains

The ETF withdrawals coincided with renewed weakness across cryptocurrency and U.S. equity markets. Bitcoin reversed its post-election gains during Thursday's trading session, falling back below the $76,000 level, while technology stocks experienced significant declines. As detailed in the November 6 report on Bitcoin slipping below $76,000, BTC fell to approximately $75,463 on Bitstamp during the decline. The report also highlighted substantial liquidations across cryptocurrency derivatives markets.