BlackRock's IBIT fund records withdrawals of $523 million in its largest daily outflow: details

The Bitcoin exchange-traded fund IBIT managed by BlackRock recorded net withdrawals of $523 million on November 18, marking the largest daily outflow the fund has seen since its launch.

This came amid a continuous wave of outflows that lasted for five consecutive days.

These sales reflect broader restructuring efforts by institutions amid market disruption and increasing volatility.

BlackRock has also shifted part of the fund's assets to trading platforms as clients seek to temporarily reduce their exposure to Bitcoin.

Bitcoin spot funds listed in the United States are experiencing ongoing outflows, driven by portfolio rebalancing.

Major asset managers—including BlackRock—continue to execute sales at the request of clients looking to mitigate risks during this volatile market phase.