bitcoin ·
BlackRock’s IBIT sees biggest Bitcoin ETF outflows since June
BlackRock’s Bitcoin ETF shed $405.3 million on Monday as US spot Bitcoin funds opened November with nearly $399 million in net outflows.
2 outlets · CoinTelegraph · cryptobriefing.com
That would be a fairly routine headline, except the largest fund in the category was heading the other way. BlackRock's iShares Bitcoin Trust (IBIT) recorded a net outflow of $201 million on the same day. The rest of the Bitcoin ETF field picked up the slack, and then some.
Spot ether ETFs had a better day too. They added $53 million in net inflows, which ended a seven-day run of outflows for the product group. Start with the arithmetic, because it tells most of the story.
If the category finished up $74.6 million while IBIT lost $201 million, the other Bitcoin ETFs had to bring in $275.6 million combined. A single day of IBIT redemptions does not make a trend. The fund has posted strong sessions in the same stretch, including a +$665 million inflow, according to the research data.
The broader category has been similarly jumpy. Bitcoin ETF flows turned negative on several days in late October, and the group recorded a –$398.6 million day on November 2.
