BTC ETF Flows — BlackRock Extends Selling Pressure November 10, 2026 | November 9 Trading Session Latest Session — November 9 Total Net Outflow → −$201.00M Net BTC Outflow → −2.69K BTC Fund Breakdown: - BlackRock IBIT → −2.85K BTC - ARK Invest ARKB → −132.31 BTC - MSBT → +295.36 BTC - Fidelity FBTC → 0 BTC - Other reported funds → 0 BTC BlackRock was the dominant contributor to net ETF outflows. Preliminary vs. Final Data Earlier today, reported ETF flows showed: Net Inflow → +$12.20M (+163.05 BTC) After BlackRock's data arrived: Net Outflow → −$201.00M (−2.69K BTC) A negative revision of approximately $213.20M. This demonstrates why preliminary ETF figures should not be treated as final institutional flow confirmation. Previous Session — November 6 Total Net Outflow → −5.42K BTC BlackRock IBIT → −5.30K BTC Fidelity FBTC → +562.79 BTC ARKB → −264.30 BTC BITB → −269.56 BTC BlackRock recorded substantial outflows in both sessions. Two-Session Overview November 6 → −5.42K BTC November 9 → −2.69K BTC Combined → Approximately −8.11K BTC BlackRock IBIT alone accounted for approximately −8.15K BTC across these sessions, partially offset by inflows into other funds. Cumulative ETF Data Total Net Inflow → +$55.95B Cumulative Net BTC Inflow → +698.24K BTC Total Net Assets → $99.41B Daily Trading Volume → $2.20B Interpretation The latest data strengthens the bearish side of the ETF flow picture. Friday's substantial outflows were followed by another negative session, led by BlackRock. While some funds recorded inflows, they were insufficient to offset IBIT redemptions. This indicates continued net outflows through the U.S. spot Bitcoin ETF channel. Conclusion Two consecutive sessions of significant ETF outflows are a cautionary signal. A durable BTC recovery would benefit from stabilization in ETF flows, improving broader spot-market activity and stronger price confirmation. ETF flows remain negative. Institutional demand has not yet demonstrated a sustained recovery. Not financial advice.