Blackrock’s spot Bitcoin and Ethereum ETFs have faced significant outflows in November, reaching a record high of $3.4 billion in total withdrawals. This sharp reversal marks a shift from the heavy accumulation phase seen earlier in the year, coinciding with a downturn in the cryptocurrency market. 💰Bitcoin dropped over 22% last month, falling below $87,000, while Ethereum experienced a similar decline of 25%, now trading under $2,800. The timing is particularly notable as Blackrock’s ETF holdings saw a near 2x year-to-date gain, prompting them to trim their exposure after the substantial gains this year. 📉 This move signals the end of an accumulation phase that many analysts closely observed.