Key Notes
November marks the worst month for Bitcoin ETFs with cumulative outflows surpassing all previous monthly records since launch.
Average spot Bitcoin ETF purchase price sits at $90,146, leaving many investors at breakeven or loss levels amid current prices.
Despite massive withdrawals, IBIT maintains market leadership with $87.63 billion in assets under management as of Nov 19.
Investors pulled approximately $523 million from BlackRock‘s iShares Bitcoin Trust (IBIT) on Nov. 18, marking the fund’s largest outflow since its debut in January 2024, according to data from Farside Investors.
This significant withdrawal comes amid a broader decline in prices, which recently reached a seven-month low. The ETF price rose slightly at the beginning of Nov. 19, but at the time of publication, it was down by more than 3%.
Analysts note that the average purchase price for spot Bitcoin ETF buyers is around $90,146, suggesting many investors are either breaking even or incurring losses at current levels, possibly prompting redemptions.
Despite this week’s heavy withdrawals, BlackRock’s iShares Bitcoin Trust remains the leading Bitcoin ETF by assets under management, with $87.63 billion as of Nov. 19. The fund had seen strong inflows in the months before this sell-off, accumulating nearly $25 billion from March through October 2025.
