BlackRock Bitcoin ETF Sees $213M Outflow as CPI Report Tests Crypto Markets

BlackRock Bitcoin and Ethereum investment products(ETF) recorded huge withdrawals as investors prepared for another important US CPI report. The asset manager's iShares Bitcoin Trust (IBIT) recorded $213.2 million in outflows. Its iShares Ethereum Trust (ETHA) lost another $119.3 million.

Combined, the two funds shed approximately $332.5 million in a single session. The withdrawals came hours before the October Consumer Price Index (CPI) report, which could influence expectations for another Federal Reserve interest rate increase.

BlackRock Bitcoin ETF Outflows Come Before CPI

Bitcoin ETF Flow, Coinglass

The latest withdrawals extend a difficult period for crypto investment products. US spot Bitcoin ETFs recorded $201 million in combined net outflows on November 9. BlackRock's IBIT accounted for $213.2 million of those withdrawals, while Morgan Stanley's MSBT attracted $22.1 million.

Ethereum ETF Flow, Coinglass

Ethereum investment products faced even heavier pressure. US spot Ethereum ETFs recorded $184.6 million in net outflows, with BlackRock's ETHA responsible for $119.3 million.

IBIT has now recorded seven consecutive sessions of withdrawals, losing $1.66 billion since October 30. November's cumulative Bitcoin ETF outflows reached $1.48 billion through November 9. These figures show institutional investment demand has weakened considerably.