Record Withdrawals Hit Bitcoin ETFs in November, Challenging Their Growth

Bitcoin exchange-traded funds (ETFs) saw significant outflows in November, reaching a record $3.48 billion according to SoSoValue data. This marked the largest withdrawal since February and continued a downward trend throughout the month. Despite this, inflows began appearing late in November, with slight relief from the ongoing downward momentum. 523 million dollars of Blackrock’s IBIT ETF alone was drained within one day, signaling institutional investors adjusting their portfolios ahead of peak price levels. This withdrawal pattern suggests cautious reactions rather than eroded trust, as Nick Ruck, Director of LVRG, explains.