• Dave McCormick's recent investment in the Bitwise Bitcoin ETF (AMEX:BITB) amidst a challenging period for U.S. spot crypto-ETFs.
• Significant capital outflows from spot Bitcoin funds in November, marking it as the worst month on record for Bitcoin ETFs.
• The "death cross" technical warning in Bitcoin's price movement, indicating potential further declines.

On November 25, 2025, Dave McCormick made a purchase of shares in the Bitwise Bitcoin ETF (AMEX:BITB), valued between $15,001 and $50,000. This transaction was disclosed on November 27, 2025. The Bitwise Bitcoin ETF is a fund that invests in Bitcoin, aiming to provide investors with exposure to the cryptocurrency market.

The U.S. spot crypto-ETFs, including those like BITB that focus on Bitcoin, are facing a challenging period. In November, these funds saw a massive outflow of capital, with $870 million withdrawn on November 13 alone, as highlighted by Bloomberg Intelligence data aggregated by Barchart. This marks the second-largest single-day withdrawal since the inception of Bitcoin ETFs.

Throughout November, total redemptions from spot Bitcoin funds have exceeded $3.7 billion, making it the worst month on record for Bitcoin ETFs. The broader crypto ETF market has seen $6 billion disappear in November, with a few days still remaining in the month. This has contributed to a 21% decline in Bitcoin's price month-to-date, affecting investor sentiment.

Bitcoin's price has dropped significantly, currently trading around $84,000, down from a record high of nearly $126,000. The recent "death cross" technical warning, where Bitcoin's 50-day moving average fell below its 200-day moving average, suggests weakening momentum. This pattern often indicates potential further declines, raising concerns about Bitcoin's future trajectory.

Despite the turmoil in the cryptocurrency market, BITB's stock is currently priced at $48.86, reflecting a 2.91% increase. The stock has fluctuated between $47.09 and $49.15 today. Over the past year, BITB has reached a high of $68.74 and a low of $41.17. The company's market capitalization is approximately $3.74 billion, with a trading volume of 2,023,598 shares on the AMEX exchange.