BlackRock's Bitcoin ETF Sheds Record $463M as Crypto Funds See Worst Week Since February

BlackRock’s Bitcoin ETF experienced a record outflow of $463 million on November 14, contributing to a significant decline in global cryptocurrency investment products, which saw $2 billion in weekly outflows due to rising macroeconomic uncertainty. This marks the largest withdrawal since February. The U.S. dominated the redemptions, accounting for 97% of the total outflows, while Germany posted modest inflows of $13.2 million. Analysts suggest that ETF flows are closely linked to broader market movements and economic policies. The digital asset exchange-traded products (ETPs) market has seen a drop in assets under management from a peak of $264 billion to $191 billion, a 27% decline in less than a month. The current market conditions reflect a cautious sentiment among investors, prompting a shift towards multi-asset strategies as uncertainty persists. Despite recent downturns, leaders in the space emphasize that ETF flows should not be overly interpreted as market indicators, given their diverse investor structure and usage across different market contexts.

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