BlackRock’s iShares Bitcoin Trust $IBIT ( ▲ 2.97% ) is staring down its worst month of net outflows since launching in January 2024. Investors have already yanked more than $2.3 billion from the world’s largest bitcoin fund in November, a sharp reversal as bitcoin $BTC ( ▲ 2.97% ) continues its steepest slide since 2022.
Bitcoin has fallen more than 40 percent from its October peak as of Monday’s close, a drop not seen since the post-FTX turmoil rocked the crypto ecosystem. The retreat has put a spotlight on spot bitcoin ETFs, which have become one of the clearest gauges of institutional sentiment toward digital assets.
These ETFs tend to act like accelerants on both ends of the price cycle. When bitcoin rises, inflows swell. When prices fall, outflows build, which adds more pressure. Citi Research, via Bloomberg, estimates that every $1 billion pulled from bitcoin ETFs translates to roughly a 3.4 percent drop in bitcoin’s price.
For now, IBIT sits at the center of that feedback loop, and November is shaping up to be its toughest month yet.nk their playbook, and even aging nuclear plants are getting a second look.