Synopsis: In November 2025, BlackRock’s iShares Bitcoin Trust (IBIT) experienced a record single-day outflow of $523 million, contributing to total ETF withdrawals of around $2.96 billion for the month, edging towards the $3.56 billion November high.
US spot Bitcoin ETFs faced a significant shakeup in November 2025. The iShares Bitcoin Trust (IBIT) ETF from BlackRock led the sell-off, losing $2.47 billion. This figure accounted for 63% of the total $3.79 billion withdrawn from all US spot Bitcoin ETFs during the month. Outflows reached record highs, signaling intensified selling pressure in the Bitcoin ETF space.
Sharp reversal after brief inflow relief
After a rare inflow of $75.4 million on Wednesday, November 19, US spot Bitcoin ETFs suffered hefty outflows of $903 million the very next day. This was the largest single-day outflow in November and among the biggest since the ETFs launched in January 2024. November now stands on track to be the worst month ever for Bitcoin ETF withdrawals, surpassing February’s previous record of $3.56 billion.
BlackRock’s IBIT ETF dominates outflows
BlackRock’s IBIT ETF alone saw $2.47 billion leave in November, making up 63% of total outflows. The fund also saw the largest single-day removal of $523 million on November 18, marking its worst day since launch. Ki Young Ju, CEO of CryptoQuant, described this as IBIT’s largest weekly redemptions ever, highlighting deep investor caution. Fidelity’s Wise Origin Bitcoin Fund (FBTC) also contributed with $1.09 billion of outflows this month, together with IBIT accounting for 91% of all US spot Bitcoin ETF withdrawals.
Bitcoin price dips following heavy withdrawals
Following these outflows, Bitcoin’s price dropped to near $83,400 on November 21, its lowest level in seven months. Industry experts warn that the downturn could deepen. Alliance DAO’s co-founder cautioned that many investors tend to buy ETFs without understanding crypto fully, signaling a potential for a 50% further price decline. Chris Burniske of Placeholder noted that just as ETFs fueled Bitcoin’s rise, they could also accelerate declines during sell-offs.
Market trends and outlook
Data shows that digital asset treasuries inflows plunged 82% from September to October 2025, while November remains on pace for the lowest inflows of the year. Despite these troubling figures, the total assets under management in US spot Bitcoin ETFs remain significant at about $115 billion, a decline from October’s peak above $130 billion.
Analysts suggest November’s record outflows reflect institutional portfolio rebalancing amid Bitcoin’s 30% price pullback from October highs. While speculative interest fades, there is potential for stabilization and rebound if volatility eases in December.
In summary, BlackRock’s IBIT ETF has led the largest wave of ETF outflows ever recorded in November, intensifying market caution. Bitcoin’s sharp price dip accompanies this liquidity drain, hinting at continued market volatility and challenging short-term conditions for crypto investors. However, the long-term story of Bitcoin adoption and institutional interest remains intact amid this turbulent phase.
This situation emphasizes the importance of understanding crypto investment risks, especially in volatile times. The record ETF outflows serve as a reminder that even large institutional funds like BlackRock can face rapid shifts in investor sentiment. For regular investors, staying informed and cautious during these swings is crucial.
Written By Fazal Ul Vahab C H