Key Takeaways
- • U.S. spot Bitcoin ETFs lost $115.56 million on November 3, 2026, a 71% slowdown from Monday's $398.6 million outflow, according to SoSoValue data.
- • The three-session redemption streak totaled $1.157 billion, with the first two November trading days alone draining $514.2 million, roughly matching the $515 million outflow recorded across all of October.
- • BlackRock's IBIT, the category's dominant fund with $62.55 billion in net assets (63% of the $99.16 billion total), shed $405.3 million on November 2, its largest outflow since June, then $94.98 million on November 3.
- • Bitwise's BITB ($21.92 million), Fidelity's FBTC ($6.76 million) and Morgan Stanley's MSBT ($3.34 million) took in a combined $32.02 million on election day, while Bitcoin recovered above $79,000 despite the outflows.
- • 2026 year-to-date ETF flows sit close to flat, with estimates ranging from roughly $38 million in net outflows to $34.7 million in net inflows depending on the data provider.
Summary
U.S. spot Bitcoin ETFs extended their losing streak to three sessions on election day, November 3, 2026, but the pace of redemptions slowed sharply. The 12 funds recorded $115.56 million in net outflows on Tuesday, following $398.6 million on Monday, November 2, and $643.2 million on Friday, October 30, according to SoSoValue data. Each session drained less than the one before, a pattern the source characterizes as typical of the late stage of a redemption wave.
The outflows followed the October 29 Binance hack, in which attackers attributed by investigators to North Korea's TraderTraitor unit drained hot wallets across ten blockchains. The theft totaled $6.3 billion, the largest in crypto history. Roughly $3 billion was frozen on-chain, mostly stablecoins, but none of the stolen Bitcoin or Ether was frozen. Bitcoin fell to a six-week low of $76,368 on hack day and briefly dipped below $76,400 on Monday, its lowest level since August. Investors also cited the Fed's September rate hike to a 3.75% to 4.00% range, rising Treasury yields and pre-midterm uncertainty as drivers of October's $515 million in net outflows.
On Tuesday, three of the 12 funds attracted inflows while IBIT recorded $94.98 million in outflows and Grayscale's Bitcoin Mini Trust (BTC) lost $52.60 million. Total volume reached $1.46 billion, with IBIT accounting for $1.08 billion, indicating active repositioning rather than a simple exit. Monday's $405.3 million IBIT outflow, the fund's largest since June 26 when $444.5 million left, exceeded the category's net outflow because smaller funds recorded combined inflows of roughly $6 million. Cumulative historical net inflows across the category stood at $56.466 billion after Tuesday, while total net assets reached $99.157 billion, or 6.33% of Bitcoin's market capitalization.
Bitcoin's price diverged from flows on Wednesday. After falling to $75,700 overnight as election results came in, Bitcoin recovered above $79,000 during the U.S. session, with one feed marking it at $80,424, up 3.65%. IBIT shares rose 3.29% on Wednesday. The source frames the next two weeks around that divergence: if Bitcoin holds above $78,000 while ETFs keep redeeming, other buyers are absorbing supply, and a return to net inflows would follow. The forecast calls for flows to turn positive within the next week, though the source notes that Wednesday's post-close flow data is the first test of the deceleration thesis.
IBIT's year-to-date net inflows reached $3.81 billion through early November, according to the source, and its cumulative historical net inflows stood at $65.81 billion after Tuesday, exceeding the category total because Grayscale's GBTC has recorded large cumulative outflows since its January 2024 conversion to an ETF.
The outflows followed the October 29 Binance hack, in which attackers attributed by investigators to North Korea's TraderTraitor unit drained hot wallets across ten blockchains. The theft totaled $6.3 billion, the largest in crypto history. Roughly $3 billion was frozen on-chain, mostly stablecoins, but none of the stolen Bitcoin or Ether was frozen. Bitcoin fell to a six-week low of $76,368 on hack day and briefly dipped below $76,400 on Monday, its lowest level since August. Investors also cited the Fed's September rate hike to a 3.75% to 4.00% range, rising Treasury yields and pre-midterm uncertainty as drivers of October's $515 million in net outflows.
On Tuesday, three of the 12 funds attracted inflows while IBIT recorded $94.98 million in outflows and Grayscale's Bitcoin Mini Trust (BTC) lost $52.60 million. Total volume reached $1.46 billion, with IBIT accounting for $1.08 billion, indicating active repositioning rather than a simple exit. Monday's $405.3 million IBIT outflow, the fund's largest since June 26 when $444.5 million left, exceeded the category's net outflow because smaller funds recorded combined inflows of roughly $6 million. Cumulative historical net inflows across the category stood at $56.466 billion after Tuesday, while total net assets reached $99.157 billion, or 6.33% of Bitcoin's market capitalization.
Bitcoin's price diverged from flows on Wednesday. After falling to $75,700 overnight as election results came in, Bitcoin recovered above $79,000 during the U.S. session, with one feed marking it at $80,424, up 3.65%. IBIT shares rose 3.29% on Wednesday. The source frames the next two weeks around that divergence: if Bitcoin holds above $78,000 while ETFs keep redeeming, other buyers are absorbing supply, and a return to net inflows would follow. The forecast calls for flows to turn positive within the next week, though the source notes that Wednesday's post-close flow data is the first test of the deceleration thesis.
IBIT's year-to-date net inflows reached $3.81 billion through early November, according to the source, and its cumulative historical net inflows stood at $65.81 billion after Tuesday, exceeding the category total because Grayscale's GBTC has recorded large cumulative outflows since its January 2024 conversion to an ETF.
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