BlackRock Executive: Outflow of $23.4 Billion from IBIT This Month is a Normal Phenomenon, Full of Confidence in the Long-term Prospects of Spot ETFs

BlockBeats News, November 30th: Believing that the $23.4 billion outflow in November is a normal occurrence, Cristiano Castro, Business Development Director of Belade's Bitcoin Spot ETF IBIT, remains confident in its long-term prospects. The Bitcoin Spot ETF has become one of Belade's most important sources of revenue, and its rapid growth rate is "surprising." The outflow in November was only due to strong demand.

Cristiano Castro told reporters, "The spot ETF is a very liquid and powerful tool designed to allow investors to flexibly allocate capital and manage cash flow. The current situation we are seeing is completely normal—any asset will experience this phenomenon during a price pullback, especially in a tool with a high proportion of retail investors."

With Bitcoin returning above $90,000 on Thursday, IBIT investors currently have a cumulative unrealized gain of about $3.2 billion, successfully offsetting the losses during the previous Bitcoin pullback period.