BlackRock’s Bitcoin ETF Experiences Significant Outflow Amid Market Turmoil
- BlackRock’s IBIT saw an outflow of $528 million, just shy of its record $528.3 million from January.
- The fund manages approximately $59 billion in assets, representing nearly 4% of Bitcoin’s total supply.
- A total of $733.43 million was withdrawn from the eleven U.S.-listed spot Bitcoin ETFs on the same day.
- Bitcoin’s price fell to $72,978, down by about 3.4% over a span of twenty-four hours.
- Over the past two weeks, more than $2 billion has been withdrawn from these ETFs.
The recent outflows coincide with geopolitical tensions following U.S. airstrikes in the Middle East, which have affected market sentiment around Bitcoin. Institutional investors appear to be reducing their exposure as macroeconomic conditions shift.
The IBIT fund recorded a significant redemption event alongside broader ETF losses, highlighting a trend where over $2 billion has left these investment vehicles recently.(Source)
