• US spot Bitcoin ETFs are near $3 billion in net outflows for November, with BlackRock alone accounting for roughly $2.1 billion
• Capital flowing into spot Bitcoin ETFs served as the main force behind Bitcoin’s price surge this year
• Since ETFs still represent a major pathway for big investment firms to put money into crypto, heavy outflows reduce demand and increase supply pressure for the underlying asset (in this case, Bitcoin)

BlackRock’s spot Bitcoin ETF, the IBIT (iShares Bitcoin Trust), registered a record single-day outflow of about $523 million on 18 November, its largest since launch in January 2024.

In total, US spot Bitcoin ETFs are near $3 billion in net outflows for November, with BlackRock alone accounting for roughly $2.1 billion. These outflows coincide with a drop in Bitcoin’s price to around $90,000, which is its lowest in more than half a year.…

Read The Full Article BlackRock’s IBIT Bleeds Record $523M as November Outflows Near $3 Billion On Coin Edition.

• US spot Bitcoin ETFs are near $3 billion in net outflows for November, with BlackRock alone accounting for roughly $2.1 billion
• Capital flowing into spot Bitcoin ETFs served as the main force behind Bitcoin’s price surge this year
• Since ETFs still represent a major pathway for big investment firms to put money into crypto, heavy outflows reduce demand and increase supply pressure for the underlying asset (in this case, Bitcoin)

BlackRock’s spot Bitcoin ETF, the IBIT (iShares Bitcoin Trust), registered a record single-day outflow of about $523 million on 18 November, its largest since launch in January 2024.

In total, US spot Bitcoin ETFs are near $3 billion in net outflows for November, with BlackRock alone accounting for roughly $2.1 billion. These outflows coincide with a drop in Bitcoin’s price to around $90,000, which is its lowest in more than half a year.…

Read The Full Article BlackRock’s IBIT Bleeds Record $523M as November Outflows Near $3 Billion On Coin Edition.