BlackRock’s Bitcoin exchange-traded fund (ETF) experienced withdrawals totaling nearly $2.3 billion in November, a situation the asset manager characterizes as ‘perfectly normal.’ Cristiano Castro, BlackRock’s business development director, highlighted the fund’s growth as one of its key revenue drivers and attributed this to increased demand, particularly from retail investors, who play a significant role in allocating capital to the Bitcoin market. 40% of outflows were reported during mid-November, with $523 million leaving on Nov. 18 and another $463 million on Nov. 14. Castro emphasized that ETFs are designed to manage investments and cash flow, stating this level of outflows is a natural occurrence in the asset class.