BlackRock Executive: The outflow of $2.34 billion from IBIT this month is a normal phenomenon, and we are confident in the long-term prospects of the Spot ETF.

BlockBeats news, on November 30, BlackRock's Bitcoin Spot ETF IBIT saw a net outflow of $2.34 billion in November, including a net outflow of about $463 million on November 14 and about $523 million on November 18, both of which set new records for single-day outflows. Cristiano Castro, the business development director, stated that the $2.34 billion outflow is a normal phenomenon, and BlackRock remains confident in its long-term prospects. The Bitcoin Spot ETF has become one of BlackRock's most important sources of revenue, with a rise in growth speed that is “surprising,” with the outflow in November solely due to previously strong demand. Cristiano Castro told reporters: “The Spot ETF is a very liquid and powerful tool, and its existence is to allow investors to flexibly allocate capital and manage cash flow. What we see now is completely normal—any asset experiences this phenomenon during a price pullback, especially in a tool where retail investors hold a high proportion.” With Bitcoin returning above $90,000 on Thursday, IBIT investors' cumulative unrealized gains are about $3.2 billion, successfully offsetting the losses during the previous Bitcoin pullback.