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BlackRock's BIT saw a record $523 million in outflows in a single day.

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On November 19, BlackRock's iShares Bitcoin Trust (IBIT) recorded its largest single-day net outflow since its inception in January 2024. IBIT saw a fund outflow of $523.15 million yesterday, surpassing the previous record of $463 million set on November 14. The ETF has 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 in a trend of fund outflows since late October. On a weekly basis, the fund has seen net outflows for four consecutive weeks, amounting to $2.19 billion. This outflow coincides with a significant drop in Bitcoin's price; earlier this week, Bitcoin fell below $90,000 from its historical high of $126,080 set in early October. Despite the continued outflows, Vincent Liu, CIO of Kronos Research, stated that institutional investors are rebalancing rather than completely selling off Bitcoin.

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