Record Outflows from Bitcoin ETFs Observed November 20 saw significant outflows from spot Bitcoin (BTC) exchange-traded funds (ETFs). The total withdrawal volume reached \$903 million, marking the second-largest daily outflow in the history of such funds. Almost all ETF issuers experienced substantial losses: BlackRock’s IBIT lost \$355.5 million, Fidelity’s FBTC lost \$190.37 million, Grayscale’s GBTC lost \$199.35 million, and Ark 21Shares’ ARKB lost \$94.42 million. These outflows occurred against an already volatile market backdrop. On that day, the price of Bitcoin was \$86,462, after which it continued to decline. At the time of writing, the value of BTC had fallen to \$81,900. Ethereum (ETH) trading funds also faced negative momentum, which continued for the eighth consecutive trading day. On November 20, they lost \$262 million. Over the past week, the price of ETH has fallen by almost 15% to \$2,683. Meanwhile, spot Solana (SOL) based ETFs recorded a net inflow of \$23.6 million. SOL was the only major digital asset that attracted the attention of institutional investors on November 20. This trend reflects a more positive sentiment towards Solana over the past two weeks, despite the general market correction. At the time of writing, SOL was trading at \$124, having lost almost 12.7% in the last day and 13% over the week. Question Regarding BlackRock (BLK) Stock Purchase The end of the text contains a promotional message from ProPicks AI, offering the use of an AI algorithm to assess investment opportunities. In the context of the text, the question of purchasing BLK remains open.
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