BlackRock exec says ‘perfectly normal’ as IBIT sees $2.3B outflows in Nov
A BlackRock director called the $2.34 billion in November outflows from its IBIT Bitcoin ETF 'perfectly normal' for a liquid instrument.Summary
Cristiano Castro, BlackRock's business development director, stated that the estimated $2.34 billion in net outflows experienced by its US-listed IBIT spot Bitcoin ETF during November is "perfectly normal." He attributed this fluctuation to the highly liquid nature of ETFs, which are often controlled by retail investors, noting that assets experiencing compression typically see such effects. Despite the recent withdrawals, Castro expressed confidence in the long-term outlook, highlighting that BlackRock's Bitcoin ETFs have been a major revenue driver and that combined US and Brazil listings neared $100 billion in assets at their peak. Furthermore, the article notes that spot Bitcoin ETFs recently snapped a four-week streak of heavy withdrawals, logging a $70 million weekly inflow, and investors in IBIT have returned to cumulative profit following Bitcoin's recent price rebound.
(Source：Cointelegraph)