BlackRock's bitcoin ETF sheds $528 million, the second-largest daily outflow on record
BlackRock's bitcoin ETF IBIT recorded $527.84 million in net outflows Wednesday, the second-largest daily redemption since January launch. All 11 U.S. spot bitcoin ETFs lost $733.43 million combined as geopolitical tensions and macro uncertainty drove institutional de-risking. Bitcoin dropped below $73,000 amid broader two-week outflow streak exceeding $2 billion, signaling potential shift from accumulation to distribution phase.
Key takeaways
- 1BlackRock's IBIT bitcoin ETF lost $527.84 million on Wednesday, the second-largest daily outflow since January 2024 launch.
- 2All 11 U.S. spot bitcoin ETFs shed $733.43 million combined as bitcoin dropped below $73,000 amid geopolitical tensions.
- 3More than $2 billion flowed out of spot bitcoin ETFs over two weeks as May shifted from accumulation to distribution phase.
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Why it matters
Institutional investors are de-risking bitcoin holdings due to Middle East tensions and macro uncertainty, signaling a potential reversal of the 2025 ETF-driven rally that benefited Indian retail traders. This outflow pattern could indicate deeper weakness ahead if the geopolitical backdrop doesn't stabilize soon.
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