Bitcoin ETF Record Outflow Analysis Report

: November 18, 2025 (EST)

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On November 18, 2025, MarketWatch reported that the largest Bitcoin ETF experienced record outflows amid a crypto bear market [0]. Subsequent analysis confirmed BlackRock’s spot Bitcoin ETF (IBIT)—the world’s largest Bitcoin ETF—recorded a monthly net outflow of $1.26 billion, its highest since launch in January 2024 [1][2]. This outflow coincided with Bitcoin’s sharp price decline: the cryptocurrency dropped to a low of $89,426 (its lowest since April 2025) and wiped out all its 2025 gains [3][4].

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• ETF Performance
  : BlackRock’s IBIT ETF price fell 16% to $52 (a level last seen in April), reflecting intense selling pressure [2].
• Bitcoin Price
  : Bitcoin declined over 5% on November 18, though it rebounded slightly to close at $93,591 [5].
• Sentiment
  : Bearish sentiment surged—put options (used to hedge against declines) reached a seven-month high relative to call options [2].

• Continued Pressure
  : Record outflows signal institutional de-risking, which could lead to further Bitcoin price volatility if sentiment does not stabilize [6].
• Broader Market Spillover
  : Tech stocks declined (Nvidia: -1.9%, Amazon: -4%, Microsoft: -3.3%) as investors shed risky assets [7].

Crypto traded as a leveraged expression of macro stress rather than a hedge, with correlations to macro tightening reasserting [8].

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Metric	Value	Source
IBIT Monthly Outflow	$1.26B (record)	[1][2]
Total Bitcoin ETF Outflows (Nov)	~$2.8B	[6]
Bitcoin Nov 18 Low	$89,426	[3][5]
Bitcoin YTD Performance	Wiped out all gains	[3]
IBIT Price Decline	16% to $52	[2]

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• Directly Impacted
  : BlackRock’s IBIT ETF, other U.S. spot Bitcoin ETFs (e.g., BITO, COIN’s ETFs).
• Related Sectors
  : Bitcoin (BTC-USD), crypto-related stocks (Coinbase: COIN), and digital asset exchanges.
• Upstream/Downstream
  : Crypto wallet providers and institutional crypto services.

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• Exact trigger for the record outflow (macro vs. ETF-specific factors).
• Whether the outflow is IBIT-exclusive or a broader ETF trend.

• Macro Factors
  : Liquidity thinness and macro tightening drove de-risking [8].
• Regulatory/Policy
  : Resolution of the U.S. government shutdown and Fed rate hike expectations may have contributed [9].

1. Bitcoin’s ability to hold above $90k support.
2. Monthly outflow data for Bitcoin ETFs.
3. Fed policy statements and inflation reports.
4. Regulatory developments for crypto assets.

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• Risk Warning
  : Users should be aware that the record $1.26B outflow from IBIT and Bitcoin’s 30% decline from its October peak may significantly impact short-term market stability.
• Additional Concern
  : The high cost of put options indicates investors are preparing for further downside, which warrants careful consideration [2].

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[0] MarketWatch: Bitcoin ETF posts record outflow amid crypto bear market
URL: https://www.marketwatch.com/story/bitcoin-etf-posts-record-outflow-amid-crypto-bear-market-a9479be3

[1] CryptoRank.io: BlackRock’s Bitcoin ETF posts record $1.26B monthly outflows
URL: https://cryptorank.io/news/feed/115f3-lackrock-bitcoin-etf-hedging-prices

[2] CoinDesk: Record $1.26B outflow hits BlackRock Bitcoin ETF
URL: https://www.coindesk.com/markets/2025/11/18/record-usd1-26b-outflow-hits-blackrock-bitcoin-etf-as-bearish-options-cost-soars

[3] TradingView: Bitcoin slides below $90k
URL: https://www.tradingview.com/news/moneycontrol:1061872c6094b:0-bitcoin-price-today-november-18-2025-crypto-slides-below-90-000-lowest-since-april-xrp-bnb-sol-eth-decline/

[4] SeekingAlpha: Bitcoin loses 2025 gains
URL: https://seekingalpha.com/article/4845292-bitcoin-loses-2025-gains-90000-marks-crypto-market-turning-point

[5] Investing.com: Bitcoin Historical Data
URL: https://www.investing.com/crypto/bitcoin/historical-data

[6] Yahoo Finance: Bitcoin ETF investors in the red
URL: https://finance.yahoo.com/news/bitcoin-etf-investors-red-89-060121723.html

[7] CNN Business: Why crypto is melting down
URL: https://www.cnn.com/2025/11/18/business/bitcoin-price-crypto-stocks

[8] Yahoo Finance: Great Bitcoin Crash of 2025
URL: https://finance.yahoo.com/news/great-bitcoin-crash-2025-lagging-164739141.html

[9] CryptoSlate: Capitulation or rotation?
URL: https://cryptoslate.com/capitulation-or-rotation-867m-flees-bitcoin-etfs-amid-dip-below-100000/

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Disclaimer

: This report is for informational purposes only and does not constitute investment advice. Always conduct independent research before making financial decisions.

Risk Note

: Crypto assets are highly volatile and subject to regulatory changes. Past performance is not indicative of future results.

Report generated on November 19, 2025
Data sources: MarketWatch, CryptoRank.io, CoinDesk, TradingView, SeekingAlpha, Investing.com, Yahoo Finance, CNN Business, CryptoSlate