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BlackRock’s IBIT sells $355M in Bitcoin

BlackRock’s IBIT sells $355M in Bitcoin

Large investor withdrawals signal increased volatility as Bitcoin prices face renewed downward pressure.

by Vivian Nguyen

1 min read

In Finance

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BlackRock’s iShares Bitcoin Trust (IBIT) recorded more than $355 million in net outflows on November 20, according to Farside Investors. Withdrawals for the week have reached approximately $964 million so far, including a record $523 million on Tuesday.

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Spot Bitcoin ETFs in the US posted net outflows of around $903 million on Thursday, reversing the prior day’s inflow. IBIT, Grayscale’s GBTC, and Fidelity’s FBTC accounted for the bulk of the withdrawals.

Bitcoin climbed above $92,000 intraday but quickly reversed after US markets opened, sliding below $88,000 and extending its decline to $85,400, per CoinGecko.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.

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