BlackRock’s spot Bitcoin exchange-traded fund (ETF) closed November beneath strain after experiencing heavy withdrawals, however the asset supervisor stays assured in its long-term outlook for the product.
Talking in São Paulo, BlackRock enterprise growth director Cristiano Castro said the corporate’s Bitcoin (BTC) ETFs had develop into certainly one of its largest income drivers, calling their progress “a giant shock” given how briskly allocations surged this yr.
Castro’s feedback adopted a tough month for BlackRock’s US-listed IBIT, which logged an estimated $2.34 billion in internet outflows throughout November. The 2 largest withdrawals got here mid-month, with about $523 million leaving on Nov. 18 and roughly $463 million on Nov. 14.
“ETFs are very liquid and highly effective devices,” Castro reportedly mentioned after his panel on the Blockchain Convention 2025. “They exist to let individuals allocate capital and handle money circulate. What we’ve been seeing is completely regular; any asset that begins to expertise compression normally has this impact, particularly in an instrument that’s closely managed by retail buyers.”
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BlackRock’s Bitcoin ETFs neared $100 billion in peak property
Castro added that demand earlier in the cycle speaks for itself. Mixed US and Brazil listings beneath the IBIT nameplate got here “very near $100 billion” in property at their peak, he mentioned.
As Cointelegraph reported, BlackRock’s spot Bitcoin ETF holders returned to profit after Bitcoin climbed again above $90,000 on Thursday.
Traders in BlackRock’s IBIT now sit on a cumulative acquire of about $3.2 billion, reversing the losses seen throughout Bitcoin’s current pullback. IBIT and BlackRock’s Ether ETF holders had been up practically $40 billion at their peak in early October earlier than income collapsed to simply $630 million final week, that means most positions had been near break-even till the most recent rebound.
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Bitcoin, Ether ETFs snap outflow streak
Spot Bitcoin ETFs ended four weeks of heavy withdrawals with a $70 million weekly influx, reversing a part of the $4.35 billion that left the sector throughout November.
Spot Ether (ETH) ETFs additionally rebounded, logging $312.6 million in weekly inflows after dropping $1.74 billion over the earlier three weeks.
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