BlackRock executives: IBIT's outflow of $2.34 billion this month is a normal phenomenon, confident about the long-term prospects of spot ETFs

BlackRock's Bitcoin Spot ETF IBIT saw a net outflow of $2.34 billion in November, with a net outflow of about $463 million on November 14 and a net outflow of about $523 million on November 18, twice breaking the previous one-day outflow record. Cristiano Castro, its director of business development, said that the outflow of 2.34 billion dollars is normal, and BlackRock remains confident in its long-term prospects. Bitcoin Spot ETFs have become one of BlackRock's most important sources of income, and the growth rate is surprisingly fast. The outflow in November was only due to strong demand.
"Spot ETFs are very liquid and powerful instruments that exist to give investors the flexibility to allocate capital and manage cash flow," Cristiano Castro told reporters. "What we are seeing is completely normal - this is what happens when any asset experiences a price correction, especially in an instrument with a high proportion of retail investors."
With bitcoin back above $90,000 on Thursday, IBIT investors have accumulated a floating profit of about $3.20 billion, successfully wiping out losses during the previous bitcoin correction.