US Spot Bitcoin ETFs Turn Negative in 2026 as Outflows Reach $1.03 Billion
US spot Bitcoin exchange-traded funds (ETFs) have shifted to net outflows for 2026, recording $1.03 billion in withdrawals through November 9, according to data from Farside Investors cited by Coin Bureau. The reversal represents a $25.7 billion swing compared with the funds' position at the same point last year, when they had attracted $24.7 billion in net inflows.
The latest figures mark a sharp change in annual flows. Just three weeks ago, US spot Bitcoin ETFs were still showing a positive net balance of $1.43 billion for 2026. The subsequent deterioration pushed cumulative flows into negative territory, indicating that withdrawals have exceeded new investments across the products since the beginning of the year.
BlackRock's IBIT Records Seven Consecutive Days of Outflows
BlackRock's iShares Bitcoin Trust (IBIT) has been among the major contributors to the recent withdrawals. The fund recorded $1.66 billion in outflows over seven consecutive trading days, according to the figures shared by Coin Bureau.
The sustained withdrawals stand in contrast to comments from BlackRock about demand from large Bitcoin holders. The asset manager said whale demand to exchange BTC for IBIT shares was "the highest we've seen at any point," with approximately $3.6 billion converted so far.
The figures highlight a contrast between the reported demand for IBIT through Bitcoin conversion activity and the fund's recent net flow performance. The source does not provide further details on the timing of the $3.6 billion in conversions or how that activity relates to the seven-day withdrawal period.
Other US Spot Bitcoin ETFs Also See Net Withdrawals
The outflow trend extends beyond BlackRock's product. Excluding IBIT, US spot Bitcoin ETFs have recorded $3.8 billion in net outflows so far in 2026, according to the figures cited by Coin Bureau.
The comparison with previous years underscores the scale of the reversal. By November 9 last year, US spot Bitcoin ETFs had accumulated $24.7 billion in net inflows. At the same point in 2024, the products had attracted $25.8 billion.
Against those historical figures, the current $1.03 billion net outflow represents a substantial change in the annual flow position. The funds moved from a $1.43 billion positive balance just three weeks earlier to a negative position through November 9.
Farside's data, as cited by Coin Bureau, places the overall 2026 net flow balance at negative $1.03 billion, while BlackRock's IBIT has recorded $1.66 billion in withdrawals across seven straight days. The reported $3.6 billion in BTC-to-IBIT conversions and the $3.8 billion in outflows from ETFs outside IBIT provide additional details on the contrasting flow trends.
Writer: Victoria HaleTechnology & Blockchain WriterVictoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.She prioritises clarity and accuracy when explaining technical developments to a general audience.
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