November Bitcoin ETF Funds Withdrawal: BlackRock Sees a Monthly Outflow of 2.3 Billion, but New Coin ETFs are Frenziedly Attracting Capital

[Chain News] The capital flow of Bitcoin ETFs in the US in November is quite interesting. A total of $3.5 billion was net withdrawn throughout the month, marking the largest wave of withdrawals since February. Starting from the end of October, there have been four consecutive weeks of outflows, totaling $4.34 billion. However, in the last three days before Thanksgiving, there was a sudden reversal, and funds began to flow back in.

The most striking thing is BlackRock's IBIT - as the largest Bitcoin ETF, it saw outflows of 2.34 billion in November alone. Even more exaggerated, on November 18th, it set a record for the largest single-day outflow since its inception: 523 million. Sounds pretty scary? But the interpretation given by LVRG director Nick Ruck is quite reasonable: institutions taking profits after Bitcoin reached new highs, coupled with the need to adjust their investment portfolios at year-end, this wave of operations seems more like normal asset management actions, rather than a loss of confidence in the market.

On the other hand, the situation for Ethereum ETF is even worse, with a net outflow of $1.42 billion in November, marking the largest monthly outflow in history. In contrast, the newly launched spot ETFs for those altcoins performed quite well—Solana and XRP have seen continuous inflows, and the XRP ETF has even attracted a total of $666 million. Grayscale is also set to launch the first Chainlink spot ETF in the U.S. this week, indicating that the product line for crypto ETFs is expanding.