- BlackRock’s spot Bitcoin exchange-traded fund (ETF) saw significant outflows in November but maintains confidence in the product’s long-term potential.
- The combined assets of BlackRock’s Bitcoin ETFs in the U.S. and Brazil nearly reached $100 billion at their peak.
- Investors in BlackRock’s Bitcoin ETF have regained about $3.2 billion in cumulative gains after Bitcoin’s recent price recovery.
- After weeks of withdrawals, Bitcoin and Ether ETFs posted positive inflows in the latest weekly data.
In November, BlackRock’s U.S.-listed spot Bitcoin ETF, IBIT, experienced heavy withdrawals totaling approximately $2.34 billion, driven largely by two significant outflows on November 14 and 18, amounting to about $1 billion combined. Despite this, BlackRock remains optimistic about the product’s future, highlighting that ETFs allow investors to manage capital flow efficiently and that outflows are a normal part of market dynamics, as mentioned by business development director Cristiano Castro in São Paulo at the Blockchain Conference 2025, according to Castro’s comments.
Castro further noted that the demand earlier in the cycle was impressive, with the combined assets of IBIT listings in the U.S. and Brazil coming close to $100 billion at their peak. Following Bitcoin’s increase above $90,000 recently, investors in BlackRock’s IBIT have seen a cumulative profit recovery of about $3.2 billion, reversing prior losses during Bitcoin’s earlier decline. The peak combined profits for IBIT and the Ether ETF reached nearly $40 billion in early October before dropping to $630 million last week, indicating that most positions were near breakeven before the recent rally.
Spot Bitcoin ETFs ended a streak of four consecutive weeks of net outflows with a $70 million weekly inflow, partially recouping the $4.35 billion lost during November. Similarly, spot Ether (ETH) ETFs reversed three weeks of withdrawals by posting $312.6 million in inflows in the latest week.
IBIT’s performance over the past month can be tracked in detail here.
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