BlackRock's IBIT saw a record single-day outflow of $523 million.

According to Mars Finance, on November 19th, BlackRock's iShares Bitcoin Trust (IBIT) recorded its largest single-day net outflow since its inception in January 2024. IBIT saw an outflow of $523.15 million yesterday, surpassing the previous record of $463 million set on November 14th. This ETF has now experienced net outflows for five consecutive days, totaling $1.43 billion. As the world's largest spot Bitcoin ETF (net assets of $72.76 billion), IBIT has been on an outflow trend since late October. On a weekly basis, the fund has seen net outflows for four consecutive weeks, totaling $2.19 billion. This outflow coincides with a recent sharp decline in Bitcoin, which fell below $90,000 earlier this week from its all-time high of $126,080 reached in early October. Despite the continued outflow, Vincent Liu, CIO of Kronos Research, stated that institutional investors are rebalancing, not completely abandoning Bitcoin.