BlackRock Bitcoin ETF Sees $213M Outflow as CPI Report Tests Crypto Markets

Significant withdrawals hit BlackRock’s Bitcoin and Ethereum investment products as market participants positioned themselves ahead of a crucial US Consumer Price Index (CPI) release. Specifically, the asset manager’s iShares Bitcoin Trust (IBIT) suffered $213.2 million in outflows, while its iShares Ethereum Trust (ETHA) shed an additional $119.3 million.

Together, the two funds lost roughly $332.5 million during a single trading session. These redemptions occurred hours ahead of the October Consumer Price Index (CPI) report, which has the potential to shape forecasts regarding another Federal Reserve interest rate increase.

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BlackRock Bitcoin ETF Outflows Come Before CPI

Bitcoin ETF Flow, Coinglass

These recent exits prolong a challenging phase for crypto investment vehicles. On November 9, US spot Bitcoin ETFs experienced $201 million in aggregate net outflows. BlackRock’s IBIT made up $213.2 million of that total, whereas Morgan Stanley’s MSBT drew $22.1 million.

Ethereum ETF Flow, Coinglass

Ethereum investment vehicles encountered even more severe pressure. US spot Ethereum ETFs registered $184.6 million in net outflows, with BlackRock’s ETHA accounting for $119.3 million of the total.

As a result, IBIT has now posted seven straight sessions of withdrawals, amounting to $1.66 billion in losses since October 30. Cumulative November Bitcoin ETF outflows reached $1.48 billion through November 9, highlighting a notable softening in institutional investment demand.

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US CPI Report Could Determine Bitcoin’s Next Move

Traders now confront another macroeconomic hurdle with the October US CPI release slated for later tonight. Forecasters anticipate a 0.3% month-over-month increase in headline inflation, cooling from September’s 0.6% rise. Meanwhile, Core CPI—which strips out volatile food and energy costs—is projected to climb 0.2%, down from the previous 0.3%.

The upcoming publication will exclude a traditional year-over-year inflation comparison because a prior government shutdown hindered the Bureau of Labor Statistics from gathering the necessary October 2025 data. Even so, the monthly metrics retain the power to sway expectations for the upcoming Federal Reserve meeting in December.

Financial markets have already baked in roughly an 85% chance of another quarter-point rate hike. Stubborn inflation could cement that view, placing extra strain on risk-sensitive assets.

Bitcoin remains especially vulnerable to shifts in interest rate forecasts. Unlike traditional fixed-income products, it does not pay a yield, which can render higher interest rates less appealing for yield-seeking investors.

A higher-than-forecast CPI print could provoke further defensive positioning across digital asset markets. Conversely, milder inflation could offer temporary relief by easing worries regarding additional monetary tightening.

Nonetheless, a favorable inflation surprise on its own may fall short of reversing the broader trend. Bitcoin also requires renewed spot demand, particularly via regulated investment channels. BlackRock Bitcoin ETF redemptions serve as a clear indicator of market caution leading into one of November’s premier economic events.

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