Bitcoin ETFs Lose $514.2 Million as Outflows Slow

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U.S. spot Bitcoin exchange-traded funds (ETFs) recorded $514.2 million in net outflows across November 2 and 3, 2026, according to Farside Investors. The pace of withdrawals eased on Tuesday after a sharp opening session, although investors continued pulling money from major funds.

The withdrawals extended a late-October outflow streak, with the three-session total reaching approximately $1.16 billion. The funds nevertheless held $99.16 billion in net assets, equivalent to approximately 6.33% of Bitcoin’s market capitalisation.

BlackRock Leads November ETF Withdrawals

On November 2, 2026, U.S. spot Bitcoin ETFs recorded $398.6 million in net withdrawals, according to Farside Investors’ fund-flow data. BlackRock’s iShares Bitcoin Trust (IBIT) accounted for $405.3 million in outflows, its largest single-day withdrawal in more than four months.

Fidelity’s Wise Origin Bitcoin Fund (FBTC) attracted $6.7 million.

The pace of net withdrawals slowed on November 3, when total outflows reached $115.6 million. BlackRock’s IBIT lost another $94.98 million, while the Grayscale Bitcoin Mini Trust (BTC) recorded $52.6 million in withdrawals.

Other funds attracted fresh capital during the same session. Bitwise’s Bitcoin ETF (BITB) gained $21.92 million, Fidelity’s FBTC received $6.76 million, and Grayscale’s legacy Bitcoin Trust (GBTC) added $3.3 million.

Market Pressures Behind ETF Selling

The withdrawals came amid political uncertainty surrounding the November 3 U.S. midterm elections, ahead of the November 6 employment report and following a reported $6.36 billion security exploit at Binance. The individual contribution of each event to ETF flows has not been established.

Despite the latest withdrawals, cumulative net inflows remained positive at $56.47 billion, illustrating the difference between the recent selling and the funds’ longer-term capital position.

For historical context, the November withdrawals followed an October 22 session when U.S. spot Bitcoin ETFs recorded $635.5 million in net outflows, according to the benchmark documented in the fund-flow research.

The next scheduled U.S. employment report on November 6 provides another potential test of investor appetite for Bitcoin-linked funds as markets assess economic conditions.