Bitcoin News Today: "Institutions Recalibrate, Not Flee, Amid $3B Bitcoin ETF Exodus"

BlackRock's iShares Bitcoin Trust (IBIT) is experiencing a historic exodus of assets, with nearly $3 billion in outflows recorded across U.S. spot Bitcoin ETFs in November 2025. The fund, which launched in January 2024 as the largest and most successful ETF of its kind, has seen a net outflow of $1.26 billion for the month - its highest monthly redemption since inception. On November 14 alone, investors withdrew $463 million, a single-day record, while a subsequent $523 million outflow on November 19 marked the largest daily redemption in the fund's history. These figures highlight a broader sector-wide retreat, with 11 U.S. Bitcoin ETFs collectively losing $2.59 billion this month.

The selloff coincides with a sharp decline in Bitcoin's price, which has fallen nearly 30% from its October record high of $126,250 to around $90,000. IBIT's share price has mirrored this downturn, dropping 16% to $52 - a level last seen in April. The pressure on the ETF is compounded by a seven-month high in the 250-day put-call skew, now at 3.1%, indicating aggressive hedging against further declines. Traders are increasingly buying put options to protect portfolios, signaling bearish sentiment amid macroeconomic uncertainty and the Federal Reserve's delayed rate-cut timeline.

Institutional investors appear to be recalibrating rather than abandoning crypto entirely. Vincent Liu, CIO at Kronos Research, noted that "record-high IBIT outflows signal institutional recalibration, not capitulation". Harvard University, for instance, has increased its IBIT holdings to $442.8 million, reflecting ongoing institutional conviction. Meanwhile, BlackRock's ETHA lost $165 million in a single day. However, Solana ETFs have bucked the trend, recording 16 consecutive days of inflows, including $23 million into Bitwise's BSOL.

The broader market context includes a $2.9 billion global outflow from crypto ETFs in the past week, the largest since February 2025. Analysts attribute this to a combination of macroeconomic uncertainty, forced liquidations, and a shift in institutional positioning. Bitcoin's correlation to gold has weakened, and its market capitalization has fallen by $1.1 trillion, now hovering near $3.2 trillion. The Fed's cautious approach to rate cuts - with only a 48.9% chance of a 25-basis-point cut in December - has further dampened risk appetite.

Despite the turmoil, some market participants see signs of stabilization. On-chain data suggests that long-term holders remain committed, while short-term selling could signal a potential market bottom. Yet the technical outlook for Bitcoin remains bearish, with prices trading below key support levels. For IBIT, the challenge will be maintaining its dominance as the primary institutional vehicle for Bitcoin exposure amid sustained outflows.