The BlackRock Bitcoin ETF records its largest outflow in history, but some are suggesting this may mark the Bitcoin price bottom.
Notably, the Bitcoin (BTC) market has moved into a steep decline over the past few weeks, and ETF flows now reflect this bearish momentum. Since Oct. 6, BTC price has dropped nearly 28%, and the token now appears on track to post its weakest monthly performance since February 2025.
Similarly, Bitcoin ETFs continue to experience heavy outflows, with the BlackRock iShares Bitcoin Trust (IBIT) reinforcing this negative trend. Since Nov. 12, the BlackRock Bitcoin ETF has logged five straight days of outflows, extending a pattern it has carried since mid-October.
BlackRock Bitcoin ETF Sees Record Daily Outflow
More importantly, the fund’s latest intraday showing stands as its worst yet, as it recorded $523 million in outflows yesterday, Nov. 18. This amount represents IBIT’s largest daily outflow to date, surpassing the previous record of -$463 million set on Nov. 14.
Interestingly, IBIT saw this major outflow at a time when other Bitcoin ETFs either attracted inflows or recorded no movement. Specifically, the Grayscale Bitcoin Mini Trust ETF (BTC) and the Franklin Bitcoin ETF (EZBC) saw inflows of $139.63 million and $10.76 million, respectively, while the others reported zero flows.
Notably, with the latest $523 million outflow, the BlackRock Bitcoin ETF has now shed $1.425 billion in capital. This marks the fund’s worst 5-day stretch in its history and places it on course for its weakest month yet, as the $1.78 billion in November outflows already exceeds its previous monthly record of -$775.77 million.
These record outflows follow a period when the fund enjoyed seven consecutive months of inflows from March to October 2025, drawing in a substantial $24.927 billion. Following the latest downturn, the BlackRock Bitcoin ETF now holds net assets of $72.76 billion, supported by $63.12 billion in cumulative netflows, and it maintains its position as the leading Bitcoin ETF.
Sign of Bitcoin Bottom?
Commenting on the latest daily performance, Bitcoin Archive raised the question of whether this record outflow could signal a market bottom, just as heavy inflows marked the peak of the previous rally. For context, from Sept. 30 to Oct. 7, the BlackRock Bitcoin ETF posted consecutive inflows totaling $3.73 billion over six days, a period that aligned with BTC’s surge above $126,000 on Oct. 6.
Since that top, Bitcoin has entered a sharp downtrend, erasing $690 billion in market value. After falling to a seven-month low of $89,198 yesterday, BTC has regained the $90,000 psychological level and currently trades at $91,685, while indicators now point to a possible decline in volatility after several weeks of intense selling.