Amr Taha
BlackRock IBIT Records $374M Bitcoin Reserve Outflow as Coinbase Prime and Binance See Heavy BTC Inflows
BlackRock's IBIT recorded a $374 million negative Bitcoin reserve netflow on November 9, as mid-size investors continued sending BTC to Coinbase Prime, Binance and Coinbase Advanced while Bitcoin traded near $74,500. Daily BTC Reserve Netflow in USD chart shows a $374 million net decrease in IBIT's tracked Bitcoin reserves. Separately, the seven-day average of Bitcoin inflows from mid-size investors reached: - Coinbase Prime: 6,300 BTC - Binance: 4,240 BTC - Coinbase Advanced: 3,927 BTC Coinbase Prime received an average 2,060 BTC more than Binance, a 48.6% gap. Binance's reading was 313 BTC higher than Coinbase Advanced's. The figures point to two developments occurring alongside Bitcoin's price weakness: lower tracked ETF reserves and substantial deposits by a specific investor-size group across three major trading venues. Exchange inflows may increase coins available for trading, potentially adding selling pressure, but they do not establish that selling occurred. The IBIT figure is a one-day reserve change, while exchange figures are seven-day averages rather than November 9 deposits.