BlackRock’s Bitcoin exchange-traded fund (ETF) closed November under pressure after seeing significant drawdowns, but the asset manager remains confident in its long-term outlook for the product.
Speaking in São Paulo, BlackRock’s business development director, Cristiano Castro He said Company’s Bitcoin (BitcoinETFs have become one of its biggest revenue drivers, and it called its growth a “big surprise” given how quickly allocations have risen this year.
Castro’s comments came after a difficult month for BlackRock’s US-listed IBIT, which recorded net outflows of about $2.34 billion during November. The largest withdrawals came in the middle of the month, with about $523 million leaving on November 18 and about $463 million leaving on November 14.
“ETFs are very liquid and powerful instruments,” Castro reportedly said after his panel at the Blockchain 2025 conference. “They exist to allow people to allocate capital and manage cash flow. What we are seeing is completely normal; any asset that starts to come under pressure usually has that effect, especially in an instrument that is very controlled by retail investors.”
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BlackRock’s Bitcoin ETFs approached $100 billion in assets at peak
Castro added that the demand earlier in the session speaks for itself. Joint listings in the US and Brazil under the IBIT name were “very close to $100 billion” in assets at their peak, he said.
BlackRock’s Bitcoin ETF, Cointelegraph, reported The owners returned to profit After Bitcoin rose again above $90,000 on Thursday.
Investors in BlackRock’s IBIT are now seeing cumulative gains of about $3.2 billion, reversing the losses seen during the recent Bitcoin pullback. Holders of IBIT and BlackRock’s Ether ETF rose nearly $40 billion at their peak in early October before gains collapsed to just $630 million last week, meaning most positions were close to breakeven until the recent rebound.
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Bitcoin and Ether ETFs have cut their outflow line
Bitcoin ETFs He completed four weeks Of heavy withdrawals with a weekly inflow of $70 million, reflecting part of the $4.35 billion that left the sector during November.
ether spot (EthereumETFs also rebounded, recording weekly inflows of $312.6 million after losing $1.74 billion over the past three weeks.
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