Is BlackRock Selling Bitcoin? What's Really Behind the $405 Million IBIT Outflow

Dextape brief

By Dextape Desk · November 3, 2026

A $405.3 million net outflow from BlackRock's iShares Bitcoin Trust on November 2 fueled claims that BlackRock was selling bitcoin. The article says clients, not the firm, were redeeming shares. Because the fund holds bitcoin directly, redemptions release coins to the market. Farside data shows it was IBIT's largest one-day outflow since June 26, while all US spot bitcoin funds combined posted a $398.6 million net decline. Fidelity's FBTC alone took in $6.7 million. The outflows started one day after a Binance theft of $6.36 billion, which TRM Labs attributed to North Korea's TraderTraitor unit. The article notes that continued withdrawals could challenge a support zone highlighted in its November bitcoin outlook.

Why it matters: It shows spot bitcoin fund redemptions return coins to the market, so client withdrawals affect bitcoin holders as well.

Mentioned: Bitcoin, Binance, BlackRock, Fidelity

Summary by Dextape, based on reporting by BeInCrypto. Written with AI from the publisher’s text and checked automatically for copied wording and unsupported figures. Not investment advice.