Crypto ETFs Saw Record Withdrawals as Bitcoin Collapsed in November
Key Takeaways
- With bitcoin down 28% from its October peak, investors pulled money from digital asset ETFs at a record pace.
- Crypto ETFs saw $3.5 billion in new withdrawals in November, the biggest outflows in the category’s short history.
- The largest digital asset ETF, the $66.3 billion iShares Bitcoin Trust ETF, lost $2.3 billion.
As bitcoin entered a freefall in November, investors in cryptocurrency exchange-traded funds rushed for the exits, pulling a record amount of money from funds that just a few months prior were experiencing huge inflows.
Withdrawals from digital asset ETFs totaled $3.5 billion in November, an exodus that smashed the previous record set this February, when investors yanked just under $2 billion. As recently as…
