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BlackRock’s Bitcoin ETF IBIT recorded net withdrawals of $523 million on November 18, the fund’s largest single-day outflow since its launch.
It was part of a wave of external fund inflows that lasted for five consecutive days.
The sales reflect the agency’s broader restructuring process in light of rising market turmoil and volatility.
BlackRock also moved some of the fund’s assets to trading platforms, and clients temporarily reduced their exposure to Bitcoin.
U.S.-listed Bitcoin spot funds have seen continued outflows, driven by portfolio rebalancing.
During this volatile market phase, major asset managers including BlackRock continue to sell at the behest of clients looking to reduce risk.
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