BlackRock’s Bitcoin ETF has seen five consecutive weeks of outflows, totaling over $2.7 billion
BlackRock's iShares Bitcoin Trust (IBIT) has experienced its longest single-week outflow since its launch in January 2024. In the five weeks ending November 28, investors withdrew more than $2.7 billion from the ETF. As of Thursday, the ETF faced another $113 million in redemptions, putting it on track for a potential sixth consecutive week of net outflows. IBIT currently has over $71 billion in assets under management. Blockchain analytics firm Glassnode noted that this trend signifies a clear reversal of the sustained inflow mechanism that previously supported prices, reflecting a cooling of new capital allocation to the asset. Bitcoin is currently trading at around $92,000, down 27% from its October peak.
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BlackRock’s Bitcoin ETF has seen five consecutive weeks of outflows, totaling over $2.7 billion
BlackRock's iShares Bitcoin Trust (IBIT) has experienced its longest single-week outflow since its launch in January 2024. In the five weeks ending November 28, investors withdrew more than $2.7 billion from the ETF.
As of Thursday, the ETF faced another $113 million in redemptions, putting it on track for a potential sixth consecutive week of net outflows.
IBIT currently has over $71 billion in assets under management. Blockchain analytics firm Glassnode noted that this trend signifies a clear reversal of the sustained inflow mechanism that previously supported prices, reflecting a cooling of new capital allocation to the asset. Bitcoin is currently trading at around $92,000, down 27% from its October peak.