BlackRock's iShares Bitcoin Trust, a spot Bitcoin exchange-traded fund (ETF), experienced a $13.5 million outflow on August 29th, marking its first withdrawal since May 1st.
BlackRock’s iShares Bitcoin Trust (NYSE:IBIT) ETF saw outflows for the second time ever on Thursday, with a net withdrawal of $13.5 million, marking the first outflow since May 1.
This comes as spot Bitcoin ETFs saw their third day of outflows, with a total of $71.8 million withdrawn on Thursday. Several other Bitcoin ETFs also saw outflows, including those from Grayscale, Fidelity, Valkyrie, and Bitwise, ranging from $8 million to $31 million.
However, ARK’s Bitcoin ETF saw an inflow of $5.3 million, contrasting with the overall trend of outflows.
These varying flows indicate differing investor outlooks as Bitcoin trades below the $60,000 level. The recent outflow from BlackRock’s iShares Bitcoin Trust, despite being the first in several months, is a notable event, although it remains to be seen whether it signals a broader trend or a temporary shift in investor sentiment.
Despite the recent outflow, BlackRock’s Bitcoin ETF has seen net inflows of over $20 billion since its launch and remains a major player in the spot Bitcoin ETF market, with holdings of over 350,000 Bitcoin.
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