BlackRock's spot bitcoin exchange-traded fund (ETF), iShares Bitcoin Trust (IBIT), saw money leave for seven straight trading sessions. Net outflows over the period totaled $1.66 billion, leading broader withdrawals across the spot bitcoin ETF market.
On the 10th (local time), blockchain media outlet Cointelegraph reported, citing Farside Investors data, that IBIT posted net outflows of $213 million the previous day. The fund, the largest spot bitcoin ETF by assets, has recorded net outflows for seven trading sessions since Oct. 30.
On the same day, spot bitcoin ETFs as a whole recorded net outflows of $201 million. Inflows of $22 million into Morgan Stanley's Bitcoin Trust ETF (MSBT) offset part of that, but did not reverse the outflow trend.
Net outflows from spot bitcoin ETFs over the past six trading sessions amounted to about $1.5 billion. Year-to-date cumulative net outflows also increased to $1.1 billion. That contrasts with 2024 and 2025, when about $25 billion flowed in on a net basis through early November each year.
The daily pace of outflows, however, has slowed. Net outflows on the 9th fell by about half from $412 million on the previous trading day, the 6th. Investor sentiment also improved slightly, with the Crypto Fear & Greed Index at 32 on the 10th. That was higher than 29 the day before and 26 a week earlier, but it remained in the "fear" range.
By contrast, outflows from spot ether ETFs widened. Net outflows totaled about $185 million on the 9th, the largest single-day amount since Oct. 6. As outflows from spot bitcoin ETFs eased somewhat, selling pressure appeared to increase in spot ether ETFs.
Bitcoin prices also failed to show a clear recovery. Bitcoin has been hovering around $73,700, down 1.29 percent from 24 hours earlier and down 5.04 percent over the past week.
With outflows continuing from spot bitcoin and ether ETFs, whether investment demand can recover has emerged as a key market variable. Daily net outflows from spot bitcoin ETFs have decreased, but outflows from spot ether ETFs have instead expanded, making it too early to judge an overall improvement in sentiment. A key question ahead is whether IBIT's streak of net outflows ends and money flows back into major ETFs.
