BlackRock’s spot bitcoin exchange-traded fund is having its worst month ever as its underlying asset suffers its largest monthly decline in more than three years.
The iShares Bitcoin Trust ETF has recorded $2.2 billion in outflows this month, as of Monday, FactSet data shows. That’s nearly eight times the $291 million in losses suffered by the investment vehicle last October, or its second-worst month on record since its debut in early 2024.
The outflows come as bitcoin is bleeding. The digital asset was last trading at $87,907.10 — down more than 20% over the past month and off more than 40% from its high of just north of $126,000 hit in early October. That makes November bitcoin’s worst month since June 2022, when the asset’s price fell about 39%.
Crazycat