Bitcoin Magazine BlackRock’s IBIT Bleeds $2 Billion in Nine Straight Days of Outflows
BlackRock’s iShares Bitcoin Trust (IBIT) lost another $269.7 million on Wednesday, its ninth straight session of redemptions, as U.S. spot bitcoin exchange-traded funds posted a fifth consecutive day of net outflows totaling $299.8 million.
Across the nine sessions since Oct. 30, IBIT has shed about $2 billion. The fund, the largest of the U.S. spot bitcoin ETFs, has seen money leave on every trading day so far in November.
The broader group has fared only slightly better. The 11 funds have lost about $1.44 billion over the past five trading days and roughly $1.88 billion in November, with outflows on seven of the month’s eight sessions. The lone exception was Nov. 4, when $74.6 million came in, even as IBIT itself bled $201.2 million that day.
IBIT accounts for about $1.77 billion of November’s outflows, or roughly 94% of the total.
Source: Bitcoin Magazine
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