Investors pull Record $523 million from BlackRock’s Bitcoin ETF - Reuters Investors pulled roughly $523 million from BlackRock’s iShares Bitcoin Trust (IBIT), marking the fund’s largest single-day withdrawal since its launch. IBIT, the largest spot bitcoin ETF, has attracted strong investor demand and has been central to the crypto ETF boom. The outflows highlight the severity of the recent Bitcoin selloff , which has corrected sharply after hitting a record high in October. Analysts have pointed to profit-taking by long-term shareholders as well as growing caution among Bitcoin treasury firms. IBIT, which has over $73 billion in assets, has fallen 19% quarter-to-date. How it impacts you? If you invested in IBIT or Bitcoin directly, more than likely, this move has impacted you. It seems like many long-term shareholders and investors are reaping the rewards of their labor. Unclear how December will pan out. We can only hope for the best. SWIFT’s ISO 20022 Migration - CCN SWIFT (Society for Worldwide Interbank Financial Telecommunication), the main messaging network for international payments, migrated over to the new ISO 20022 messaging standard. From now on, all SWIFT FI-to-FI payment messages will be exchanged in the richer ISO 20022 format, ending the coexistence with legacy MT messages. Before this standard, banks worldwide used MT messages that were mostly plain-text messages such as: Send $1,000 to Account 12345, Reference: Invoice 56. The issue here is that there’s no consistent structure, and every bank might format it differently. Important details (such as who’s paying, why, or what the funds are for) may be buried in free text. This makes automation hard and compliance checks (like anti-money laundering or sanctions screening) slow and error-prone. After the new standard, messages use structured, data-rich formats — built in XML or JSON, similar to what modern software uses. So instead of a short text note, each message carries labelled data fields, such as: * Sender and receiver names and IDs * Purpose of payment (salary, invoice, tax, refund, etc.) * Address and account details in standard formats * Currency, timestamps, and transaction references Think of it like the difference between a handwritten note and a spreadsheet: * The note just tells you something happened. * The spreadsheet captures exactly what, when, where, why, and by whom. With ISO 20022, computers, not just humans, can read and understand every part of a payment message automatically. That means faster processing, fewer errors, better fraud detection, and more transparency for regulators and customers alike. How it impacts you? I’m honestly not even sure what to say. I mean — isn’t this what the Bitcoin Blockchain has been doing for 17 years? Yay, because now the payment messaging system used by banks globally has improved. Honestly though, I’m just shaking my head because now they’ve finally entered the 21st century—25 years later… Thanks for reading Bitcoinomics21! Please share this post with everyone This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit bitcoinomics21.substack.com