Farside Investors has now published a complete daily row for Tuesday, November 10, 2026, on its U.S. spot bitcoin ETF flow table. The table shows a net outflow of $95.0 million, the fourth consecutive session of net redemptions. BlackRock’s iShares Bitcoin Trust, IBIT, accounted for $78.2 million of that decline. Fidelity’s Wise Origin Bitcoin Fund, FBTC, recorded a $36.8 million outflow. Morgan Stanley’s MSBT was the only fund on the Tuesday row with a positive print, at $20.0 million. Every other issuer in Farside’s lineup was recorded at 0.0.
That Tuesday row was still incomplete when this blog’s earlier November 11 morning package was published. It is complete now, and it changes the running arithmetic for November even though it does not rewrite last week’s already-reported $1.28 billion outflow in the week of November 2 through November 6. The new information is the finished November 10 session, the four-day streak that began on November 5, and the month-to-date total that can now be added from official daily rows through Tuesday. Wednesday, November 11, still appears on the same Farside table as a row of dashes with a displayed total of 0.0, which means the Veterans Day session has not yet been finalized. This article does not treat that Wednesday row as a flow print.
The completed November 10 tape, fund by fund
Farside reports flows in millions of U.S. dollars. Parentheses denote net outflows. On November 10 the printed line is: IBIT (78.2), FBTC (36.8), BITB 0.0, ARKB 0.0, BTCO 0.0, EZBC 0.0, BRRR 0.0, HODL 0.0, BTCW 0.0, MSBT 20.0, GBTC 0.0, BTC 0.0, and a total of (95.0). The only offsetting inflow was MSBT’s $20.0 million. IBIT and FBTC together accounted for $115.0 million of gross outflow, before that single inbound print. No other major issuer, including Grayscale’s GBTC, Ark 21Shares’ ARKB, Bitwise’s BITB, or Franklin’s EZBC, recorded a non-zero figure that day.
A 0.0 on Farside is not the same thing as a dash. A zero means the compiler has a completed observation and it came in as no net creation or redemption for that fund on that date. A dash, as on the November 11 row, means the day is not yet a finished observation. Collapsing those two symbols is a common way to misread the table, and it is one reason a later article in this package walks through how macro-calendar sessions interact with listed-product flows more generally. For November 10, the zeros are part of the official completed row, not missing data.
Four straight outflow days, and a slower pace
The completed daily totals on Farside for the four sessions from November 5 through November 10 are: November 5, (430.2); November 6, (411.9); November 9, (201.0); and November 10, (95.0). Added together, those four official rows sum to $1,138.1 million of net outflows. That four-day figure is an arithmetic total of published daily rows. It is not a separate official “streak total” published as a headline on the Farside page, and it should not be confused with the already-covered week of November 2 through 6, which included a modest November 4 inflow of $74.6 million and therefore is a different window.
The path of the four days is as important as the sum. The first two sessions were heavy, at more than $400 million each. Monday’s completed row, November 9, was still a sizable $201.0 million outflow, with IBIT alone at (213.2) and ARKB at (9.9), partly offset by MSBT’s $22.1 million inflow. Tuesday’s $95.0 million outflow is the smallest of the four days. The direction remains negative. The scale has cooled. That is all the daily table can support. It does not identify who redeemed, why they redeemed, or whether Wednesday’s still-unfinished session will extend or break the streak.
IBIT remains the dominant source of the recent redemptions. On Farside’s completed rows, IBIT printed (105.0) on November 5, (403.0) on November 6, (213.2) on November 9, and (78.2) on November 10. Those four IBIT figures sum to $799.4 million of net outflows. FBTC was more mixed: (199.9) on November 5, a $42.8 million inflow on November 6, a zero on November 9, and (36.8) on November 10. Concentration in a single large issuer can make the complex look one-sided even when several other funds are flat, which is exactly what Tuesday’s row shows.
November month-to-date, added only from completed rows
With November 10 now complete, the month-to-date total through Tuesday can be added from Farside’s published daily totals: November 2, (398.6); November 3, (115.6); November 4, 74.6; November 5, (430.2); November 6, (411.9); November 9, (201.0); and November 10, (95.0). Those seven sessions sum to a net outflow of $1,577.7 million. November 11 is excluded because it is unfinished. November 7 and 8 were a weekend and have no U.S. ETF creation session on the table.
Inside that month-to-date total, the week of November 2 through 6 accounts for $1,281.7 million of net outflows, matching the already-reported “about $1.28 billion” week to rounding. The new increment is the $296.0 million of combined outflows on November 9 and 10. In other words, the month has continued to leak after the worst week, but the incremental two sessions are a fraction of that week’s total, and Tuesday was the milder of the two.
Farside’s table also prints a cumulative “Total” line across all funds of $55,470 million. That figure is the compiler’s cumulative net flow since inception of the products in the table, not a 2026 calendar-year total. This article does not invent a year-to-date number by subtracting unverified starting points from that lifetime total. Secondary reports have published various 2026 year-to-date estimates; those estimates are not used here, because they are not a labeled field on the Farside page used for this article.
Where Tuesday sits in the post-CPI tape
November 10 was the first full U.S. equity session after the Bureau of Labor Statistics released the October consumer price index, which showed a 0.4 percent monthly increase in the all-items index and a 0.3 percent increase in the index excluding food and energy, as discussed in the same-day bitcoin reaction to the hot CPI print. ETF creations and redemptions are not a minute-by-minute record of that inflation release. They are an end-of-day net of authorized-participant activity in the listed funds. A $95.0 million outflow on the first completed post-CPI session is consistent with continued, but slower, net selling in the listed complex. It is not, by itself, a measure of how much bitcoin traded on offshore spot books or in perpetual futures around the 8:30 a.m. Eastern release.
The Farside ether table, read in the same pass, shows a nearly flat November 10 total of $1.3 million in net outflows after a $184.6 million outflow on November 9. That contrast belongs in a separate close reading of the ether funds and is mentioned here only to caution against treating “crypto ETFs” as a single flow. Bitcoin and ether products can print very different daily rows on the same date, and on November 10 they did.
What the Tuesday row does not say
A completed ETF flow row does not identify the beneficial owners. It does not say whether the IBIT redemptions were asset-allocator rebalancing, tax-lot sales, or futures-related hedges being unwound. It does not say whether MSBT’s $20.0 million inflow is the start of a broader rotation among issuers or a one-fund event. It does not forecast Wednesday, and it cannot, because U.S. cash equities are open on Veterans Day even while the bond market follows a SIFMA close recommendation, and the Farside November 11 row had not been filled in yet.
Lifetime cumulative net flows of $55,470 million also should not be misread as current assets under management. Assets under management move with both flows and the price of bitcoin. Farside’s table is a flow table. Price-times-shares figures published elsewhere are a different statistic and are not mixed into the official daily rows used here.
Finally, vendor differences remain a live issue. Other compilers, including SoSoValue, have been cited in contemporaneous news coverage for the same dates, sometimes with similar totals and sometimes with different year-to-date frames. This article stays with Farside’s retrieved table and labels every multi-day sum as arithmetic from those rows. If a later Farside revision changes a printed daily cell, the running totals would change with it.
The November daily record, before the streak began
A fair reading of November 10 also requires the three sessions that preceded the four-day outflow run. On November 2, Farside’s total was a net outflow of $398.6 million. The official row is IBIT (405.3), FBTC 6.7, BITB 0.0, ARKB 0.0, BTCO 0.0, EZBC 0.0, BRRR 0.0, HODL 0.0, BTCW 0.0, MSBT 0.0, GBTC 0.0, BTC 0.0, and a total of (398.6). It was a nearly single-issuer day: IBIT’s redemption was larger than the complex’s net total, because FBTC’s small inflow trimmed the headline. The $52.6 million outflow in the fund Farside labels BTC arrived one session later, on November 3, and should not be assigned to the November 2 row.
November 3 was more dispersed. The official total was (115.6), with IBIT at (95.0), FBTC at 6.8, BITB at 21.9, MSBT at 3.3, and BTC at (52.6). November 4 was the only completed November inflow day in the window through Tuesday, at $74.6 million. That session was internally split: IBIT still printed (201.2), but FBTC took in $236.7 million, BITB $15.2 million, ARKB $19.9 million, and BTCO $4.0 million. A headline inflow can coexist with a large redemption in the biggest fund. That is a useful warning against reading the complex total as if every issuer moved together, and it is why Tuesday’s combination of an IBIT outflow and a small MSBT inflow is not unprecedented, only smaller.
October 30, the last October session on the same retrieved table, remains the largest recent one-day outflow in the visible window, at $643.2 million, with IBIT at (233.7), FBTC at (201.0), ARKB at (129.5), BITB at (25.7), and GBTC at (53.3). November 5’s $430.2 million and November 6’s $411.9 million were smaller than that October 30 print but still historically heavy for this product set. Tuesday, November 10, at $95.0 million, is not in that class. The week that contained November 5 and 6 is already on the record. The completed post-CPI session is a continuation at a reduced pace, not a second $400 million-plus day.
Fees, share classes, and why the table is not a ranking of “best” funds
The top of the Farside bitcoin table also lists headline fee rates: IBIT 0.25 percent, FBTC 0.25 percent, BITB 0.20 percent, ARKB 0.21 percent, BTCO 0.25 percent, EZBC 0.19 percent, BRRR 0.25 percent, HODL 0.20 percent, BTCW 0.25 percent, MSBT 0.14 percent, GBTC 1.50 percent, and BTC 0.15 percent. Those figures are the compiler’s displayed fee line, not a KCEX fee schedule, and they are not an invitation to declare any product the cheapest in all circumstances. Waiver periods, sponsor credits, and brokerage commissions can change a client’s all-in cost. GBTC’s much higher displayed fee is one reason its flow history has often differed from the newer issuers, but Tuesday’s row shows GBTC at 0.0, so the day’s net number is not a Grayscale event.
Creations and redemptions are typically executed in kind or in cash by authorized participants, not by retail holders clicking a redeem button on a brokerage app. When a retail client sells ETF shares on an exchange, those shares usually change hands in the secondary market. Net flow appears in Farside’s table when authorized participants create or redeem primary-market baskets, often because the shares are trading away from the value of the underlying bitcoin, or because a large allocator is entering or exiting the wrapper in size. A $95.0 million net redemption therefore says that, across the complex, primary-market activity was modestly negative on Tuesday. It does not say that $95.0 million of retail market-sell volume was the only activity in the shares.
That distinction matters on a holiday week. Wednesday, November 11, is Veterans Day. U.S. stock exchanges are open for a regular session, so ETF shares can trade, and primary-market creations or redemptions can still be arranged on an equity business day. The bond market, by contrast, is under a SIFMA full-close recommendation, which is irrelevant to bitcoin itself but relevant to some allocators’ operational calendars. Until Farside replaces the November 11 dashes with numbers, none of those institutional details should be filled in with guessed flows.
Connecting the listed wrapper to the coin, carefully
Spot bitcoin ETFs hold bitcoin, so a sustained period of net redemptions can translate into authorized participants returning shares and the trusts releasing coins, which can add sellable supply in the underlying market. The translation is not one-for-one in every hour, and it is not the only source of bitcoin supply and demand. Miners, offshore spot books, perpetual futures, options hedges, and corporate treasuries all sit outside the Farside table. The listed wrapper has been a highly visible institutional channel since these products launched, which is why a $1,577.7 million November month-to-date outflow through Tuesday is a meaningful demand fact. It is still only one channel.
Price commentary belongs in contemporaneous market reports, not in invented closes. This article does not restate unofficial intraday bitcoin prints as official settlement values, and it does not claim that a $95.0 million outflow “caused” any particular move in the coin on Tuesday. The earlier post-CPI market piece remains the place for that session’s price color. The contribution of this update is narrower and more durable: the official daily flow row is now in, it is negative, it is smaller than the preceding three outflow days, and it extends November’s already large deficit without yet including Wednesday.
If later this week Farside fills in November 11 as another outflow, the four-day streak would become a five-day streak and the month-to-date total would move more negative. If the unfinished row later prints as an inflow, the streak would end on Tuesday. Either outcome is still in the future. The responsible way to use a flow table is to wait for the cell to stop being a dash.
Average, maximum, and minimum rows also appear at the foot of the same Farside table. The displayed average daily total is $78.0 million, the maximum is $1,373.8 million, and the minimum is $1,113.7 million in parentheses, which is a net outflow. Those summary statistics cover the full history in the table, not November alone, and they are useful only as a scale check. A $95.0 million session is close to the long-run average in absolute size and far from either extreme. A $430.2 million or $643.2 million session is not. Treating every negative day as equivalent erases that difference.
A compact official-row table through November 10
| Session (Farside, US$m) | IBIT | FBTC | Complex total |
|---|---|---|---|
| November 2 | (405.3) | 6.7 | (398.6) |
| November 3 | (95.0) | 6.8 | (115.6) |
| November 4 | (201.2) | 236.7 | 74.6 |
| November 5 | (105.0) | (199.9) | (430.2) |
| November 6 | (403.0) | 42.8 | (411.9) |
| November 9 | (213.2) | 0.0 | (201.0) |
| November 10 | (78.2) | (36.8) | (95.0) |
| November month-to-date (completed days) | (1,500.9) | 56.3 | (1,577.7) |
The IBIT month-to-date figure of $1,500.9 million in net outflows, and the FBTC month-to-date inflow of $56.3 million, are arithmetic sums of the official daily cells in the table above. They show how concentrated November has been in a single issuer even after Fidelity’s large November 4 creation. Tuesday did not break that pattern; it merely reduced the size of IBIT’s contribution, from hundreds of millions on several earlier days to $78.2 million, while FBTC swung back to a modest outflow.
The compact table is a restatement of completed official cells, not a new Farside field. The November month-to-date line does not appear as a labeled MTD row on the source page; it is the hand-added sum of the November 2 through November 10 daily totals, and of the IBIT and FBTC columns over the same completed days. MSBT’s 20.0 inflow on November 10 is inside the daily total of (95.0) but is not given its own month-to-date line here, and it should not be inferred by subtracting the IBIT and FBTC subtotals from the market-wide month-to-date figure. Lifetime footer totals remain on the source page and are not reprinted in this compact table as if they were November arithmetic.
How to use the completed print without over-interpreting it
For a trader, the useful reading is modest. Listed U.S. spot bitcoin ETFs were still in net redemption on the first completed session after the hot October CPI, but the outflow was the lightest in four days and was concentrated in IBIT and FBTC, with a single Morgan Stanley fund on the other side and the rest of the complex flat. November is still deeply negative on completed days, at $1,577.7 million through Tuesday, because last week’s $1.28 billion hole has not been repaired. The four-day streak is real in the official daily totals. The pace of that streak has slowed. Wednesday is not yet a number.
That combination is weaker demand in the listed wrapper, not a proof that bitcoin has made a low, and not a proof that outflows must accelerate again. Anyone who wants to connect these prints to Treasury yields, to the forthcoming 30-year auction, or to ether-fund behavior should do so with the underlying official sources in hand, not with a slogan about “ETFs capitulating.” The only new hard fact in this update is the one that was missing in yesterday’s package: Farside’s November 10 row is now complete, and it is a $95.0 million net outflow.
