Bitcoin ETFs See $411.9M Outflow as BlackRock’s IBIT Leads Sell-Off

US spot Bitcoin exchange-traded funds experienced a net outflow of $411.9 million on November 6, according to data from Farside Investors. BlackRock’s iShares Bitcoin Trust (IBIT) was responsible for the bulk of the selling, with $403 million in outflows. This marks a significant reversal for the fund, which had been a major driver of inflows into the crypto ETF market. The outflows come amid broader volatility in digital asset prices, as investors reassess risk exposure following recent market swings. Other Bitcoin ETFs saw mixed flows, but none came close to offsetting the redemptions from BlackRock’s product. The data underscores how quickly sentiment can shift in the crypto space, with institutional products amplifying both gains and losses. For market participants, the scale of IBIT’s outflows raises questions about whether this is a short-term repositioning or the start of a larger trend away from Bitcoin exposure through regulated funds. As the market digests these flows, all eyes will be on whether BlackRock’s ETF can regain momentum in the coming sessions.