BlackRock’s Bitcoin ETF Sees $2 Billion in Outflows Over…
By Abdelaziz Fathi
AI summary of the source article
BlackRock's iShares Bitcoin Trust recorded more than $2 billion in net outflows across nine consecutive sessions through November 11. Broader US spot Bitcoin ETFs experienced approximately $1.44 billion in five-day redemptions amid declining prices.
Why it matters
Bitfinex noted that "a temporary reduction in selling pressure does not necessarily indicate that buyers are returning in sufficient numbers to sustain higher prices."
Key facts
- IBIT accumulated approximately $2.00 billion in net withdrawals across nine consecutive sessions through November 11.
- On November 11, IBIT registered $269.7 million in net redemptions, accounting for nearly 90% of total US spot Bitcoin ETF withdrawals.
- Despite recent redemptions, cumulative net inflows across US spot Bitcoin ETFs since launch stand at approximately $55.17 billion.
Source excerpt · FinanceFeeds
BlackRock's iShares Bitcoin Trust (IBIT) recorded more than $2 billion in net outflows over nine consecutive trading sessions through November 11, as investors continued withdrawing capital from US spot Bitcoin exchange-traded funds amid declining cryptocurrency prices and weak spot demand. IBIT registered $269.7 million in net redemptions on Wednesday, accounting for nearly 90% of the $299.8 mill…