BlackRock executives: The outflow of $2.34 billion from IBIT this month is a normal phenomenon, and they are confident about the long-term prospects of the Spot ETF.

On November 30, BlackRock's Bitcoin Spot ETF IBIT experienced a net outflow of $2.34 billion in November, with a net outflow of approximately $463 million on November 14 and about $523 million on November 18, both setting new records for single-day outflows. Its business development director, Cristiano Castro, stated that the $2.34 billion outflow is a normal phenomenon, and BlackRock remains confident in its long-term prospects. The Bitcoin Spot ETF has become one of BlackRock's most important sources of revenue, and its rise has been “surprising,” with the outflow in November attributed to previously strong demand. Cristiano Castro told reporters, “The Spot ETF is a highly liquid and powerful tool designed to allow investors to flexibly allocate capital and manage cash flow. What we are seeing now is completely normal—any asset will experience this phenomenon during price pullbacks, especially in a tool with a high proportion of retail investors.” With Bitcoin returning above $90,000 on Thursday, the cumulative unrealized gains for IBIT investors are approximately $3.2 billion, successfully offsetting losses incurred during the previous Bitcoin pullback.