U.S. spot bitcoin ETFs lost approximately $300 million on Wednesday, driven by heavy withdrawals from BlackRock’s IBIT fund and concurrent downward pressure across major artificial intelligence equities.
The calculation follows:
Market Pressures Mount
- BlackRock’s IBIT accounted for nearly $270 million of the single-day outflows, while Grayscale’s GBTC shed $39 million.
- Nvidia shares are down 10% following the resignation of CEO Jensen Huang.
- Strategy will be removed from MSCI global equity indexes after the close on November 30.
U.S. spot bitcoin ETFs saw substantial redemptions as macroeconomic headwinds and corporate governance shifts rattled institutional portfolios. According to SoSoValue data cited by CoinDesk, cumulative net inflows into these products stand at roughly $55 billion since their launch in January 2024. But the balance sheet tells a different story for recent buyers, who remain underwater as bitcoin trades near $72,400 compared to average acquisition costs estimated near $81,500.
The tech sector experienced parallel turbulence as Nvidia (NASDAQ: NVDA) announced that Jensen Huang resigned as CEO and left the board effective immediately. CFO Colette Kress stepped in on an interim basis, while Harvey Jones became the company’s first-ever chairman. Shares fell 10% on the news, dragging down AI infrastructure peers including IREN (NASDAQ: IREN), which fell 5%, and Cipher Digital (NASDAQ: CIFR), which declined 6%.
| Asset / Fund | Recent Metric | Performance Detail |
|---|---|---|
| BlackRock IBIT | $270 million | Single-day outflow on Wednesday |
| Nvidia (NVDA) | 10% decline | Shares dropped following CEO departure |
| Bitcoin (BTC) | $72,400 | Trading level amid broader crypto slide |
| Nebius (NBIS) | $980.8 million | Third-quarter revenue, up 571% year over year |
Corporate crypto treasuries also faced structural adjustments. MSCI confirmed that Strategy (NASDAQ: MSTR) will be removed from its widely tracked global equity indexes after the market close on November 30. Meanwhile, Strive lifted the annual dividend rate on its SATA preferred stock by 25 basis points to 13.25% to address trading levels sitting below par value.
The company still intends to report its Q3 financial results on November 17.
Disclaimer: The information provided in this article is for educational and informational purposes only and does not constitute financial advice.
