Bitcoin ETFs lose $399 million as IBIT posts its biggest outflow since June

The numbers from two independent trackers

Two data providers publish these flows, and they agree closely. SoSoValue reads fund disclosures and Farside Investors compiles its own daily table, so having both is a useful cross-check.

The arithmetic says something the headline does not. With Farside's figures, −$398.6 million + $405.3 million = +$6.7 million, which is exactly Fidelity's FBTC inflow. In other words, outside IBIT and FBTC, the remaining funds were roughly flat on the day. This was not a broad exit across the product range. It was one very large fund seeing heavy redemptions while a second fund took in a small amount.

SoSoValue's running totals give the scale. IBIT's cumulative net inflow since launch stands at $65.905 billion, and FBTC's at $10.179 billion. All US spot bitcoin ETFs together hold $98.125 billion in net assets, equal to 6.36% of bitcoin's total market value, with cumulative net inflows of $56.582 billion.

One more piece of arithmetic on those totals: $56.582 billion − $65.905 billion = −$9.323 billion. IBIT alone has taken in more than the whole group has on a net basis, so the other funds combined are net negative by about $9.32 billion over their history. That is why a single IBIT day can move the total so much.

How big is $405 million for IBIT?

Cointelegraph reports that the last time IBIT lost more in one session was 26 June, when investors pulled $444.5 million. Monday's figure is the largest in a little over four months.

Measured against IBIT's own history, it is still small. $405 million is about 0.6% of the fund's $65.905 billion cumulative net inflow (405 ÷ 65,905 ≈ 0.61%). A single day like this does not undo years of buying. What it does show is that the largest holder base in the product can sell quickly when sentiment turns.

Why the money left: what the sources say, and what they do not

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Neither data provider explains why investors redeemed. Cointelegraph places the outflow next to two facts:

• US spot bitcoin ETFs recorded $515 million in net outflows in October, and around $38 million in net outflows so far in 2026, according to the Farside data it cites.
• The withdrawals came amid wider market volatility after the Binance hot-wallet incident, which Cointelegraph describes as a $6.3 billion hack. We covered the latest attribution dispute in our report on North Korea's denial after the FBI named TraderTraitor.

Cointelegraph also quotes Edwin Mata, chief executive of the tokenization firm Brickken: "I wouldn't interpret these outflows as a rejection of digital assets. Investors reduce exposure when uncertainty rises, particularly after an event that raises questions about the security of market infrastructure." That is one executive's view, not a measured cause. ETF flow data records how much money moved. It does not record why.

Ether funds moved the same way. Cointelegraph, citing SoSoValue, reports that US spot ether ETFs lost about $140 million on Monday, their sixth straight day of net outflows, after a record $1.61 billion of outflows in October.

What the price did

Cointelegraph, citing CoinGecko, reports that bitcoin briefly fell below $76,400 on Monday, its lowest level since August, and traded near $76,600 at publication, down 3.7% over seven days.

Our own check of exchange market data later on Tuesday shows a partial recovery:

OKX's rolling 24-hour opening price was 77,887.4 USDT, so the move was (77,478.6 − 77,887.4) ÷ 77,887.4 ≈ −0.52%. Bitget's API reported a 24-hour change of −0.534% at the same minute. Both venues show a 24-hour low just under 76,400 USDT, consistent with the dip Cointelegraph describes.

The perpetual market was calm. OKX's BTC-USDT-SWAP funding rate for the current period was 0.01%, the same as the base interest rate in OKX's formula. That is a neutral reading: longs are not paying a premium to stay in, and shorts are not crowding the market either. You can compare venues on our funding rates board and see whether Monday's dip forced leveraged positions out on our liquidations page.

Timeline

Read the table from the bottom up and the sequence is clear: the price dip came first in the reporting day, the flow data a day later, and by Tuesday evening in Asia the spot price was about 1,100 USDT above Monday's low (77,478.6 − 76,386 = 1,092.6 USDT on OKX's own 24-hour range).

Who this affects

Spot holders on an exchange. ETF flows are a demand signal from US brokerage accounts, not a direct order on your exchange. They matter to you because large ETF buying or selling is executed by market makers and authorised participants who trade the underlying coin. A run of outflow days usually means steady selling pressure; a single day often fades.

Leveraged traders. A neutral funding rate after a 4-month-high IBIT outflow tells you the futures market did not panic. If outflows continue and funding turns negative, short positions start paying longs, which changes the cost of holding a hedge. Check the funding rate before you open or roll a position, not after.

ETF holders who also trade crypto directly. IBIT and FBTC flows are reported a day late. By the time a headline says "$399 million out", the price has already reacted. The tracker numbers are better used as context for the next session than as a trading trigger.

How to act on this on an exchange

If you plan to buy or hedge BTC this week, open the BTC perpetual on your exchange and do three things before you trade: compare the spot price with the perpetual mark price, read the next funding time, and size the position so a repeat of Monday's dip to roughly 76,400 USDT does not reach your liquidation price.

On Bitget, the standard futures taker fee in NexuAlpha's partner registry is 0.06%, and the registry records a 60% reader share of trading fees, settled daily. On a $10,000 BTC perpetual order, that is $10,000 × 0.06% = $6 in fees, and $6 × 60% = $3.60 back. The fee schedule and sign-up route are on our Bitget exchange page. For OKX's spot and perpetual pricing, see our OKX exchange page; our Bitget page also lists the spot fee tier for readers who prefer to buy without leverage.

What to watch next

• Tuesday's flow print (3 November, US ET). SoSoValue and Farside publish after the US close. A second IBIT outflow of similar size would turn one large day into a trend.
• Ether ETF streak. Six days of outflows after a record October is the weaker side of the ETF market. A seventh day would extend the longest run in the data Cointelegraph cites.
• Funding. A move from 0.01% to negative on OKX and other venues would show futures traders turning bearish, something the ETF data alone cannot show.
• The 76,400 USDT low. Both OKX and Bitget show their 24-hour low just below this level. A break below it would take bitcoin to its lowest since August, per the CoinGecko data Cointelegraph cites.

What we could not confirm

The sources do not say who redeemed IBIT shares or why. We did not find a filing or statement from BlackRock about Monday's flows, so any link between the outflow and the Binance incident is commentary, not evidence. The two trackers differ by $0.4 million on the total; we quote both and use Farside's figures for the arithmetic above.