BlackRock suffers worst-ever rout as Bitcoin crashes

BTC-USD -8.85% BLK -2.18%

There simply doesn't seem to be an end to the ongoing crypto market crash.

Within the last 24 hours, more than 170,000 crypto traders have been liquidated and over $550 million has been wiped out from the market.

It doesn't matter whether it's an institutional giant or a retail trader, nearly everyone is liquidating their positions even in the face of staggering losses.

Related: BlackRock plans to tokenize ETFs following its blockbuster Bitcoin ETF

The total crypto market cap slipped 5% in a day to $3.02 trillion at the time of writing, with Bitcoin (BTC) similarly slipping roughly 5% to $88,675.69 at the time of writing.

It's one of the worst phases for Bitcoin, especially after it hit the record high price above $123,000 only last month.

More News:

• Major Wall Street firm rolls out Bitcoin Fund with gold insurance

• Why BlackRock's Bitcoin ETF proves 'ETFs are no joke'

• BlackRock’s Larry Fink says Bitcoin is 'not a bad asset'

Bitcoin crash claims BlackRock as casualty

The ongoing Bitcoin crash has claimed a major casualty: BlackRock (NYSE: BLK).

Yes, the world's largest asset manager recently suffered its worst-ever rout when its spot Bitcoin exchange-traded fund (ETF) saw the largest sell-off in a single day.

It was in January 2024 when the Wall Street giant launched iShares Bitcoin Trust (Nasdaq: IBIT) after the green light from the U.S. Securities and Exchange Commission (SEC).

The fund turned out to be so successful that it became BlackRock's most profitable ETF.

Even BlackRock CEO Larry Fink, who once called Bitcoin “the domain of money launderers and thieves," recently seemed to be retreating from his earlier position. Last month, he called it a "reserve currency" alternative to the US dollar in an interview on CBS's 60 Minutes.

But now that Bitcoin is going through one of its worst phases, even BlackRock couldn't escape the heat.

On Nov. 18, IBIT posted its worst single-day outflow since its launch in January last year.

The day saw $523 million getting wiped out from the fund, surpassing the previous record of $463 million on Nov. 14.

IBIT has also witnessed a remarkable drop in the assets under management (AUM), slipping from a peak of $99.4 billion on Oct. 6 to roughly $73 billion at the time of writing.

Overall, the U.S. spot Bitcoin ETFs saw an outflow of $372.77 million on Nov. 18.

However, the worst day remained Nov. 13 when these funds witnessed a total outflow of $869.86 million.

This story was originally reported by TheStreet on Nov 19, 2025, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.