BlackRock's IBIT offloads $463M in Bitcoin, largest outflow on record
Key Takeaways
- BlackRock clients sold $463 million in Bitcoin in a single day, the highest outflow recorded.
- The outflow reflects institutional risk management amid volatile market conditions.
Investors pulled $463 million from BlackRock’s IBIT Bitcoin ETF on Friday, representing the largest single-day outflow on record for the product.
The massive selloff reflects institutional investors reducing their exposures amid heightened volatility. BlackRock clients appear to be rebalancing their portfolios by scaling back Bitcoin positions as market conditions shift.
US-listed spot Bitcoin ETFs recorded net outflows of around $492 million on November 14.
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