IBIT is the most important fund in all of crypto. If you understand IBIT, you understand why Bitcoin is down.
What is IBIT?
IBIT is a fund by BlackRock*, the world's largest asset management company, which manages *$11 trillion.
This fund lets you buy Bitcoin on the stock exchange just like you’d buy a share of Apple, without going to Binance or setting up a wallet.
Today's IBIT news—and it's a disaster:
1. The massive outflows: 8 straight days of selling
Money has been flowing out of IBIT for 8 straight days, from October 30 through today
Total outflows: $1.73 billion
Yesterday, Tuesday: $78.2 million flowed out
Monday: $213.2 million flowed out
Thursday, November 5: $430 million flowed out, the worst day
This is the longest outflow streak in IBIT's history.
2. All Bitcoin funds are in the red
The total for Bitcoin funds in America: $95 million flowed out yesterday, marking the fourth day in a row
In November alone, $1.6 billion flowed out
For all of 2026, $1.1 billion has flowed out. That means 2026 will be the first year in history that more money flows out of Bitcoin funds than into them, since they launched in January 2024
Three weeks ago, there was a net inflow of +$1.43 billion*. Now it’s at *-$1.1 billion. That’s a $2.5 billion shift in three weeks
3. People are fleeing Bitcoin and moving into stocks
This is the point that explains everything:
Over the last 5 days, stock funds have received $12 billion a day in inflows
The 17 biggest funds receiving inflows in America are all stock funds: VOO for the S&P 500, QQQ for the Nasdaq, and IVV
Not a single Bitcoin fund made the list
So the big money is saying: "Stocks are down, this is the opportunity, let's buy stocks. Bitcoin? No, leave it alone, it's still going to fall"
4. IBIT's numbers right now
Share price: about $40.64*, down 1.5%
Its assets: $58.24 billion*, making it still the biggest Bitcoin fund in the world
Total assets of all Bitcoin funds: $92.82 billion*, meaning they represent 6.26% of all Bitcoin
Fear and Greed Index: 32*, meaning people are still scared
CryptoQuant Bull Score: down from 90 on October 13 to 20 now, meaning "extremely bearish"
What's the connection between IBIT, MSTR, and BTC?
These three are all part of the same story, but from three different angles:
BTC: the asset itself, currently at $73,856, holding at support around $73,000
IBIT: the gateway big investors use to get into Bitcoin. If the gateway is closed and money is flowing out, Bitcoin won't rise
MSTR: the company that buys a lot of Bitcoin. If money is flowing out of IBIT and MSTR is losing value, Bitcoin will fall further
These three are stuck in a vicious cycle: IBIT sells, Bitcoin falls, MSTR falls, people get more scared, and IBIT sells even more.
What should you watch with IBIT?
Will the outflows stop? If money flows into IBIT tomorrow, even just $10 million, that would be the first sign of a rebound
Will the outflows keep shrinking? They fell from $430 million to $412 million to $201 million to $95 million. That means selling is slowing down. If it reaches $0, the market will rebound
Will MSBT keep seeing inflows? The new Morgan Stanley fund is the only one that received inflows: $20 million yesterday and $22 million the day before. That means someone is buying
IBIT takeaway:
IBIT is telling you: "Big institutions are still selling, but they're selling less"
It's not the time to buy aggressively, but it's not the time to panic-sell either. It's time to wait for the bleeding to stop.
#IBIT $IBIT.ETF
