5 Days of Bitcoin ETF Outflows, Brought to You Mostly by BlackRock

Bitcoin (BTC) ETF outflows stretched to a fifth straight day on Wednesday, with $299.8 million leaving US spot funds. BlackRock’s iShares Bitcoin Trust (IBIT) took almost all of the hit. The selling is not spread evenly. Most of the money is leaving a single fund, which leaves BTC short of one of its steadiest buyers. Why Is BlackRock’s IBIT Carrying the Bitcoin ETF Outflows? Five days of withdrawals have drained about $1.44 billion from the funds, according to Farside Investors. Roughly three-quarters of that money came out of IBIT. This week has been especially lopsided. About $596 million left the funds since Monday, and nearly all of it came from IBIT. Wednesday showed the pattern clearly. Most funds recorded no flows at all, while IBIT alone lost $269.7 million.

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