Nov 19 Update:10 #Bitcoin ETFsNetFlow: -6,105 $BTC(-$558.89M)🔴#BlackRock outflows 5,628 $BTC($515.27M) and currently holds 782,852 $BTC($71.67B).9 #Ethereum ETFsNetFlow: -40,442 $ETH(-$123.75M)🔴#BlackRock outflows 52,612 $ETH($160.99M) and currently holds 3,656,670 $ETH($11.19B).https://t.co/qy0LMNWWqM ...

Core Insights - BlackRock's iShares Bitcoin Trust (IBIT) experienced its largest single-day outflow of $523 million, indicating a significant decline in investor sentiment within the crypto market [1][9] - The outflow represents the fifth consecutive day of redemptions for IBIT, with over $3 billion withdrawn from US spot Bitcoin ETFs this month, nearly $2 billion of which was from IBIT alone [3][5] Market Performance - Bitcoin has dropped nearly 30% from its all-time high in October, reaching its lowest level since April, following a liquidation event that erased approximately $19 billion in leveraged positions [4] - The decline in Bitcoin's price has pushed investors in the 12 US spot Bitcoin ETFs into the red, further accelerating outflows from these funds [4] Institutional Sentiment - The recent wave of redemptions has raised concerns about a cooling institutional appetite amid growing macroeconomic uncertainty [6] - Market liquidity has tightened due to ETF outflows and long-term holder sales, contributing to lower short-term Bitcoin prices and highlighting a decrease in market confidence [6] Trader Behavior - Options traders are adopting defensive positions, with an increasing number buying protection against Bitcoin falling to $80,000 by late December, reflecting concerns about the US job market and potential interest rate changes [7] - The bearish sentiment is primarily driven by ETF outflows, reduced liquidity, and a temporary halt in institutional allocations, suggesting that investors are awaiting clearer macroeconomic signals [8]

Core Insights - Morgan Stanley has sold $104 million in structured notes linked to BlackRock's iShares Bitcoin Trust (IBIT), which is a spot Bitcoin ETF allowing traditional market exposure to Bitcoin [1][2] - This initiative represents a significant effort by Wall Street to provide controlled Bitcoin exposure to wealthy clients [2] Product Details - The structured note, known as dual directional autocallable trigger plus, offers enhanced payouts if IBIT remains flat or increases, with limited gains if the ETF declines by less than 25%. Full losses are incurred if the ETF drops below this threshold [3][4] - The note features an autocall function: if IBIT closes at or above its initial level after one year, investors receive principal plus approximately 28%. If IBIT is below its starting level but above 75%, the note continues to maturity with potential gains up to 25%. A breach below the 75% level results in full exposure to losses [4] Market Context - IBIT, launched in early 2024, quickly became the largest Bitcoin ETF in the US, attracting tens of billions in assets as it offers a simpler access route to Bitcoin without the complexities of private keys or crypto-native platforms [5][6] - The ETF trades like a standard equity security, providing intraday liquidity, clearer tax treatment, and a custodied structure suitable for large banks' risk models [6] Investor Sentiment - Structured products are increasingly viewed as a safer way for mainstream investors to engage with crypto volatility without assuming crypto-level risks, according to industry experts [7] - Bitcoin has seen a nearly 30% decline from its recent peak, with a seven-month low of $89,393 recorded on November 18, 2025 [7]

Nov 18 Update:10 #Bitcoin ETFsNetFlow: -2,473 $BTC(-$229.58M)🔴#BlackRock outflows 1,589 $BTC($147.51M) and currently holds 788,480 $BTC($73.21B).9 #Ethereum ETFsNetFlow: -67,310 $ETH(-$279M)🔴#BlackRock outflows 64,707 $ETH($200.92M) and currently holds 3,709,281 $ETH($11.52B).https://t.co/cGYmOU8574 ...

Crypto ETF Flows - U.S spot Bitcoin ETFs experienced a $255 million net outflow, marking a four-day redemption streak [1] - BlackRock's IBIT led the Bitcoin ETF outflows with $146 million in a single day [1] - Spot Ethereum ETFs saw $183 million in net outflows [1] - U.S spot Solana ETFs recorded a $8.26 million net inflow [1]

Nov 17 Update:10 #Bitcoin ETFsNetFlow: -8,794 $BTC(-$838.49M)🔴#BlackRock outflows 4,880 $BTC($465.26M) and currently holds 790,069 $BTC($75.33B).9 #Ethereum ETFsNetFlow: -87,460 $ETH(-$279M)🔴#BlackRock outflows 54,730 $ETH($174.59M) and currently holds 3,773,989 $ETH($12.04B).https://t.co/rsa00pl7yj ...

Core Insights - Harvard University has significantly increased its holdings in Bitcoin exchange-traded funds (ETFs), with a nearly 260% increase in its investment [1][3] - The university's investment in BlackRock's iShares Bitcoin Trust (IBIT) is valued at $442.8 million as of the latest filing [2] - Harvard's investment in Bitcoin ETFs surpasses its combined holdings in major tech stocks like Meta, NVIDIA, and Alphabet [3] Investment Details - As of September 30, Harvard owned 6.81 million shares of IBIT, marking its first investment in the second quarter of FY2025 with a position of $116.7 million [3] - IBIT represents Harvard's largest ETF purchase and its most significant single investment in terms of dollar value [4] - In addition to Bitcoin, Harvard has also invested in gold ETFs, acquiring 661,391 shares in SPDR Gold Shares, valued at $235 million [4][5] Market Context - The broader trend shows that pension funds in the U.S. have started to invest in Bitcoin ETFs, although sell-offs have become more frequent [6] - Notably, Wisconsin's Investment Board sold its entire $300 million holdings in the BlackRock Bitcoin ETF earlier this year [7] - Recent data indicates that Bitcoin ETF flows have decreased by approximately $2.3 billion from their peak [7]

Nov 14 Update:10 #Bitcoin ETFsNetFlow: -4,828 $BTC(-$460.46M)🔴#BlackRock outflows 2,610 $BTC($248.94M) and currently holds 794,948 $BTC($75.823B).9 #Ethereum ETFsNetFlow: -70,248 $ETH(-$220.72M)🔴#BlackRock outflows 43,240 $ETH($135.86M) and currently holds 3,828,719 $ETH($12.03B).https://t.co/v2rO20g1w3 ...

🔖 Our Bitcoin ETF Dashboard is entirely free to monitor any time. Just hit refresh and see how the latest days are unfolding by total flows, or compare individual ETF's. 👇https://t.co/rgXVfX5IWG ...

Cryptocurrency ETF NetFlows - Bitcoin ETFs experienced net outflows of 2,300 BTC, equivalent to $235.22 million [1] - Ethereum ETFs saw net outflows of 54,389 ETH, totaling $187.1 million [1] Individual ETF Performance - Fidelity's Bitcoin ETF experienced outflows of 1,308 BTC, valued at $133.69 million, while holding 200,746 BTC, worth $20.53 billion [1] - BlackRock's Ethereum ETF experienced outflows of 26,610 ETH, valued at $91.54 million, while holding 3,871,959 ETH, worth $13.32 billion [1]