Bitcoin News Today: Institutions Test Entry Points as $2.2B Flees BlackRock Bitcoin ETF

$2.2B Leaves BlackRock Bitcoin ETF in Biggest Monthly Outflow

BlackRock's iShares Bitcoin Trust (IBIT) ETF has experienced its largest monthly outflow on record, with $2.2 billion in net redemptions as of November 2025, according to Farside Investors. The fund recorded a single-day outflow of $523.15 million on November 18—the highest since its January 2024 launch—and has seen $2.96 billion in total outflows this month, making it the second-worst month for spot Bitcoin ETFs. This follows a five-day losing streak for U.S. spot Bitcoin ETFs, with $372 million in net outflows on November 21 alone.

The exodus comes amid Bitcoin's 30% decline from its October 2025 all-time high of $126,080 to around $90,000. Despite this, the average spot Bitcoin ETF buyer remains slightly profitable, with a cost basis of $90,146. Analysts attribute the outflows to institutional portfolio rebalancing rather than a mass abandonment of Bitcoin. Vincent Liu of Kronos Research noted that large investors are "tightening conditions and testing entry points" amid macroeconomic uncertainty, while Bloomberg's Eric Balchunas emphasized the sector's resilience despite temporary losses.

The outflows contrast with Bitcoin's historical November performance, which typically sees an average 41.22% rally. However, the current sell-off has not translated into broader market panic. Franklin Templeton's EZBC and Grayscale's BTC ETFs recorded inflows of $10.8 million and $139.6 million, respectively, on November 21. CoinDesk Research highlighted that most selling pressure is occurring outside ETFs, with total U.S. spot Bitcoin ETF assets under management remaining relatively stable at $58.2 billion.

Meanwhile, the Commodity Futures Trading Commission (CFTC) is expanding its oversight of digital assets. Acting Chair Caroline Pham has launched a "Crypto Sprint" initiative and is seeking CEOs for a new "CEO Innovation Council" to shape regulations for crypto, prediction markets, and leveraged trading according to reports. The council, with nominations due December 8, aims to address gaps in regulatory frameworks as Congress debates a market structure bill according to analysis. Pham also confirmed discussions with exchanges like CME and Coinbase to introduce leveraged spot crypto trading as early as December according to sources.

The CFTC's moves align with broader institutional interest in crypto infrastructure. U.S. Bancorp recently tested a stablecoin on the Stellar blockchain, while crypto venture capital activity rebounded to $4.6 billion in Q3 2025 — the second-highest quarter since the FTX collapse. However, challenges persist, including competition from traditional asset classes and regulatory uncertainty.

As BlackRock's IBIT grapples with outflows, the sector's long-term outlook remains mixed. While short-term volatility persists, analysts like Geoff Kendrick of Standard Chartered note that ETF inflows were the primary driver of Bitcoin's 2025 momentum. With institutional demand intact and regulatory frameworks evolving, the market may yet rebound—provided macroeconomic signals clarify and risk appetite returns.