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BlackRock’s Bitcoin ETF Records a Massive $523 Million Outflow
On November 19, the issuer of the iShares Bitcoin Trust (IBIT) reported the largest daily net outflow since the fund’s debut in January 2024.
According to SoSoValue, IBIT saw $523.15 million withdrawn yesterday, surpassing the previous record outflow of $463 million set on November 14.
BlackRock’s IBIT — the world’s largest spot Bitcoin ETF with $72.76 billion in net assets — has been showing negative momentum since late October. Over the past week, $2.19 billion has been withdrawn from the fund.
Despite the substantial outflow, Kronos Research CTO Vincent Liu stated that institutional investors are more likely rebalancing their portfolios rather than abandoning Bitcoin entirely.
The record-high IBIT outflow indicates a shift in institutional strategy rather than capitulation. Large investors are reducing risk, tightening requirements, and testing entry points until macroeconomic signals become clearer. Once that happens, risk appetite and asset allocation will quickly return to previous levels, Liu said.
The outflow from Bitcoin funds coincides with the recent drop in the flagship cryptocurrency’s price, which earlier this week fell below $90,000 from its all-time high of $126,080 reached in early October.
See also: "Ripple Moves $420 Million Worth of XRP Amid Expectations of Price Recovery"
