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(Seoul=Yonhap Infomax) Yong Wook Kwon – BlackRock’s spot Bitcoin exchange-traded fund (ETF) is experiencing significant outflows, marking its worst month on record.
According to CNBC and FactSet data as of the 24th (local time), the iShares Bitcoin Trust ETF has seen $2.2 billion in outflows so far in November. This figure is nearly eight times the $290 million withdrawn in October and represents the second-worst monthly performance since the ETF’s launch in early 2024.
The outflows have been triggered by a sharp decline in Bitcoin prices. Bitcoin has dropped more than 20% compared to last month and is down over 40% from its peak in early October.
Analysts attribute the withdrawals to growing macroeconomic uncertainty, including central bank monetary policy, and deteriorating market sentiment. Investors are reallocating funds from Bitcoin ETFs to safe-haven assets such as gold.
Frank Chaparro, Head of Content at crypto trading firm GSR, said, “Spot Bitcoin ETF investors, especially new holders, are feeling pressure to sell their shares, which is leading to further short-term weakness in the asset.”
He added, “Any downturn can be unsettling for new investors entering through the fund. As quickly as they bought in, they can sell just as fast.”
ywkwon@yna.co.kr
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