Withdrawals are subject to a security hold and processed the next business day after that hold clears. If the request is placed before 5PM EST (21:00 UTC), it will be processed the next business day. If the request is placed after 5PM EST (21:00 UTC), it will be processed in two business days. Withdrawals are processed between 12PM-8PM EST and are only processed on business days. Some withdrawals may also trigger additional verification, and if not completed promptly, could cause your withdrawal to be delayed.
This security hold is in place to protect clients against fraudulent requests and also allows clients to cancel their request if the destination wallet is entered incorrectly. Additionally, it gives BlockFi time to review and ensure the assets are being returned to the correct individual and there is no fraudulent or suspicious activity.