BlackRock’s IBIT drives November’s record ETF outflows, bleeding $2.47 billion and accounting for 63% of the $3.79 billion withdrawn from US spot Bitcoin ETFs.
US spot Bitcoin exchange-traded funds saw another sharp reversal on Thursday, erasing a brief moment of relief earlier in the week.
After breaking a five-day outflow streak with $75.4 million in inflows on Wednesday, the funds were hit with fresh redemptions of $903 million Thursday — the biggest outflow day in November and one of the largest single-day outflows since the products were launched in January 2024, according to Farside Investors.
The $3.79 billion withdrawal puts November on track to be the worst month on record for US spot Bitcoin (BTC) ETF outflows if the remaining days fail to offset this month’s redemptions.
