US-listed spot Bitcoin exchange-traded funds recorded a third consecutive session of net outflows on Monday, November 9, as BlackRock’s IBIT dominated redemptions. According to updated Farside Investors data, the group lost $201.0 million, following losses of $430.2 million on November 5 and $411.9 million on November 6. The three-day aggregate now stands at roughly $1.04 billion.
Monday’s selling was not evenly distributed. BlackRock’s IBIT posted $213.2 million in net outflows, while Morgan Stanley’s MSBT attracted $22.1 million in new money, offsetting part of the redemptions. ARK Invest and 21Shares’ ARKB showed a smaller $9.9 million outflow, and several other funds recorded no net creation or redemption.
The figures measure fund creations and redemptions rather than the intentions of every Bitcoin investor. Analysts note that secondary-market trading is distinct from flows into or out of a fund’s underlying Bitcoin exposure. BlackRock’s fund is closely watched because it is a large route into Bitcoin for traditional brokerage and portfolio investors, so persistent redemptions can weigh disproportionately on market commentary.
At the same time, XRP ETFs recorded $10.42 million in daily withdrawals, with Bitwise accounting for nearly 90% of reported outflows. The decline came despite Ripple’s banking expansion, suggesting that institutional enthusiasm for XRP-linked funds has not been enough to prevent weakening ETF demand.
What would signal a more durable turn? Analysts suggest watching whether large-issuer selling eases over several completed reporting sessions and whether inflows broaden across products or remain confined to a single issuer. A better sentiment measure combines completed ETF flow data with spot volume, derivatives positioning and the changing rates outlook. For now, the latest evidence is that listed-fund demand remains weak even as the scale of net redemptions has moderated from last week’s peaks.
