BlackRock: IBIT's outflow of $2.34 billion this month is a normal adjustment; we remain optimistic about the long-term growth of spot ETFs.

According to Odaily Planet Daily, BlackRock's Bitcoin Spot ETF (IBIT) saw a net outflow of $2.34 billion in November, with outflows of approximately $463 million and $523 million recorded on November 14th and 18th respectively, setting new single-day records. In response, Cristiano Castro, BlackRock's Director of Business Development, stated that such fund flows are normal and the company remains highly confident in the long-term development of spot ETFs.

Castro stated that Bitcoin spot ETFs are highly liquid instruments designed to help investors flexibly allocate capital, and it is common for funds to withdraw during price corrections, especially in products with high retail participation. The outflows over the past month have primarily stemmed from short-term volatility driven by previously strong demand.

With Bitcoin breaking through $90,000 again this Thursday, IBIT investors currently have a total unrealized profit of approximately $3.2 billion, fully recovering the losses from the previous pullback. (Cointelegraph)