BlackRock's IBIT Records $523M Single-Day Outflow, Largest Since Launch

BlackRock's iShares Bitcoin Trust (IBIT) saw a net outflow of $523.15 million on November 19, its largest single-day withdrawal since launching in January 2024, BlockBeats reports. The outflow exceeded the previous record of $463 million set on November 14, bringing total net outflows to $1.43 billion over five consecutive days. With net assets of $72.76 billion, IBIT has recorded four straight weeks of outflows since late October totaling $2.19 billion. Vincent Liu, CIO at Kronos Research, said institutional investors are rebalancing rather than abandoning Bitcoin entirely.