BlackRock Bitcoin ETF Sees Record $523 Million Outflow as BTC Drops Below $90,000

Core Insights - BlackRock's iShares Bitcoin Trust (IBIT) experienced a record outflow of approximately $523 million on November 18, marking the largest withdrawal since its launch in January 2024, amid a decline in Bitcoin prices [1][2] - November is projected to be the worst month for Bitcoin ETFs, with cumulative outflows exceeding previous monthly records, totaling $1.425 billion in capital lost over five consecutive days of net redemptions [2][6] - Despite the outflows from IBIT, other Bitcoin ETFs like Grayscale Bitcoin Mini Trust and Franklin Templeton's ETF saw inflows of $139.6 million and $10.8 million respectively, indicating a potential shift in investor preference [3] Bitcoin Price Impact - Bitcoin's price has fallen below $90,000, down approximately 30% from its October high of over $126,000, contributing to increased selling pressure in ETFs [4][5] - As of November 19, Bitcoin was trading at $89,620, reflecting a 4.30% decline in a single day, with trading volume down by 42% [4] Investor Behavior - The average purchase price for spot Bitcoin ETF buyers is around $90,146, suggesting that many investors are either breaking even or incurring losses, which may be driving the recent redemptions [5] - Despite the significant withdrawals, BlackRock's iShares Bitcoin Trust remains the largest Bitcoin ETF by assets under management, holding $87.63 billion as of November 19, having accumulated nearly $25 billion from March to October 2025 prior to the sell-off [6]