BlackRock Bitcoin ETF sheds $2.47B in November as outflows hit record $3.79B

During the Devconnect conference in Buenos Aires, Ethereum co-founder Vitalik Buterin expressed serious concerns about the increasing dominance of institutional giants like BlackRock over the cryptocurrency market, particularly focusing on Bitcoin and Ethereum. He highlighted the potential risks this poses to the decentralization and integrity of the crypto ecosystem, as institutional influence grows.

BlackRock has deposited $348 million in Bitcoin and $117 million in Ethereum into Coinbase Prime, indicating a significant move towards integrating digital assets into traditional finance strategies. This development underscores the growing institutional interest in cryptocurrencies.

BlackRock's Bitcoin ETF, the iShares Bitcoin Trust (IBIT), experienced significant outflows in November, shedding $2.47 billion. This amount represents 63% of the total $3.79 billion withdrawn from US spot Bitcoin ETFs during the month, indicating a growing caution among investors.

U.S. Bitcoin spot exchange-traded funds (ETFs) experienced a significant net outflow of $903 million on November 20, marking the second-largest outflow since their inception in January 2024. This decline is largely attributed to major withdrawals from BlackRock and Grayscale, reflecting growing investor caution amid market volatility.

Plume's CEO has projected that Real-World Assets (RWA) will grow 3-5 times by 2026 as the company expands its reach beyond cryptocurrency enthusiasts. This announcement follows a partnership with Securitize, a tokenization platform backed by BlackRock and Morgan Stanley, to deploy institutional-grade assets on Plume’s Nest staking protocol.

Plume's CEO has projected that Real-World Assets (RWA) will grow 3-5 times by 2026 as the company expands its reach beyond cryptocurrency enthusiasts. The announcement follows a partnership with Securitize, a tokenization platform backed by BlackRock and Morgan Stanley, to deploy institutional-grade assets on Plume’s Nest staking protocol.

BlackRock's IBIT has sold $355 million in Bitcoin, indicating significant outflows from major ETFs. This trend may reflect investor caution and could impact market stability and future cryptocurrency investments.

Bitcoin is attempting to stabilize around $95,000 after a volatile week that saw its price dip below $90,000. This decline follows a broader risk-off sentiment in the market, unsettling investors who recently witnessed Bitcoin reach an all-time high of $126,000. The situation raises questions about whether institutional investments, such as those from BlackRock, can reverse the downward trend.