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BlackRock's BIT saw a record $523 million in outflows in a single day.
BlockBeats news, on November 19, BlackRock's iShares Bitcoin Trust (IBIT) recorded its largest single-day net outflow since its establishment in January 2024 on Tuesday. IBIT saw a fund outflow of $523.15 million yesterday, surpassing the previous record of $463 million set on November 14. The ETF has experienced net outflows for 5 consecutive days, totaling $1.43 billion. As the world's largest Spot Bitcoin ETF (net assets of $72.76 billion), IBIT has been in a trend of fund outflows since late October. On a weekly basis, the fund has seen net outflows for 4 consecutive weeks, totaling $2.19 billion. This capital outflow comes amid a significant recent fall in Bitcoin, which dropped below $90,000 earlier this week after reaching an all-time high of $126,080 in early October. Despite the sustained outflows, Vincent Liu, CIO of Kronos Research, stated that institutional investors are rebalancing rather than completely selling Bitcoin.