Record $1.26B Outflow Hits BlackRock Bitcoin ETF as Bearish Options Cost Soars

Why It Matters

The massive outflow and steep price decline signal waning investor confidence in spot Bitcoin ETFs, potentially pressuring fund managers and affecting broader crypto market liquidity. Elevated put‑call skew shows heightened hedging demand, which could amplify Bitcoin price volatility.

Summary

BlackRock's spot Bitcoin ETF (IBIT) recorded a record $1.26 billion net outflow in November, the largest monthly redemption since its launch in January 2024. The ETF's price fell 16% to $52, a level not seen since April. The outflows are part of a broader $2.59 billion withdrawal from 11 spot Bitcoin ETFs. Meanwhile, the 250‑day put‑call skew rose to a seven‑month high of 3.1%, indicating bearish options have become significantly more expensive.